Indonesia slashes rates again

Indonesia's central bank slashed interest rates yesterday for the third month in a row as Southeast Asia's biggest economy feels the sting of the US-China trade war and tepid global growth. Bank Indonesia (BI) lowered its key lending rate by 25 basis points to 5.25 per cent, prompting speculation that more cuts could be in store as central banks around the world adopt softer monetary policies.

"This is a pre-emptive measure to boost the momentum of growth amid a global economic slowdown," bank governor Perry Warjiyo said. The move comes after the US Federal Reserve announced its second interest rate cut of the year as it pointed to a slowing world economy and trade tensions with Beijing.

Indonesia slashes rates again

Indonesias central bank slashed interest rates yesterday for the third month in a row as Southeast Asias biggest economy feels the sting of the US-China trade war and tepid global growth. Bank Indonesia (BI) lowered its key lending rate by 25 basis points to 5.25 per cent, prompting speculation that more cuts could be in store as central banks around the world adopt softer monetary policies. This is a pre-emptive measure to boost the momentum of growth amid a global economic slowdown, bank governor Perry Warjiyo said. The move comes after the US Federal Reserve announced its second interest rate cut of the year as it pointed to a slowing world economy and trade tensions with Beijing.