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Bank Indonesia 'to announce rate cuts'
02 Jul 2009
According to Reuters, the measure will take the rate down to 6.75 per cent, the lowest it has ever been at.
The financial institution has indicated that it is coming towards the end of the rate cutting cycle, which was started to boost the economy in the south-east Asian nation.
It is expected to announce that it is still on course to meet its inflation forecast of five to seven per cent for 2009.
Predictions for the country's economic growth this year are not likely to be changed, Reuters claimed, with Bank Indonesia likely to hold its estimates of three to four per cent economic growth.
Indonesia's economy has been one of the strongest in the region in terms of growth during the global economic downturn.
Finance minister Sri Mulyani Indrawati recently claimed that economic growth in the second half of 2009 will be 4.6 per cent, reports the Jakarta Post.
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