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Indonesia's Central Bank Delivers First Rate Cut in Three Years, Reduces Rate by 25 Basis Points to 6.00%
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Indonesia's Central Bank Delivers Surprise 25 bps Rate Cut, First in Three Years
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Indonesia's central bank delivered a surprise rate cut, reducing the benchmark interest rate by 25 basis points to 6.00%. This marks the first rate cut in more than three years. The deposit facility rate was also cut by 25 basis points to 5.25%. The move aims to bolster economic growth in Southeast Asia's largest economy. The rate cut, which differed from the Reuters poll prediction, was announced on Wednesday, just hours before the Federal Reserve's expected dovish tilt. Following the announcement, Indonesian stocks fell slightly by 0.1%.