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Indonesia : Indonesia c bank holds rate at 5.75% as expected
Publish Date : 11-May-2012
Indonesia\'s central bank kept its policy rate at a record low of 5.75 per cent on Thursday for a third straight month as expected, since it said inflationary pressures were under control going forward, while growth has slowed only slightly.
All 16 economists had expected Bank Indonesia (BI) to hold the benchmark rate and four of them expected it to tweak reserve requirements for commercial banks to absorb liquidity and dampen inflation pressures.
BI made 75 basis points rate cuts in the policy rate in October and November, then slashed it another 25 bps in February to keep up Indonesia\'s growth rate at a time when the global outlook was deteriorating.
Indonesia\'s economy expanded 6.3 per cent in the first quarter from a year earlier. Last year, growth was 6.5 per cent, the highest since 1996.
