Bank Indonesia cut policy rates further to support economy
Bank Indonesia (BI), the central bank of Southeast Asia’s largest economy, decided to cut rates further by 25 basis points (bps) to 5% in its latest monetary policy meeting. The decision was in line with market expectations and amounted to the fourth rate cut since July this year.
Read MoreGlobal growth is slowing and the strength of the recovery is uncertain
In its latest World Economic Outlook (WEO), the International Monetary Fund (IMF) forecasts a synchronized slowing in the growth rate of global economic activity (GDP) to 3.0% in 2019 from 3.6% in 2018. Indeed, the IMF has been steadily revising down its estimates and forecasts for global GDP growth over the past year (see chart).
Read MoreWas this information helpful?