Indonesia cuts benchmark interest rate to 6.75 percent

Staff Writer
Columbus CEO

JAKARTA, Indonesia (AP) — Indonesia's central bank has cut its benchmark interest rate by a quarter point to 6.75 percent to help enhance domestic demand to bolster economic growth momentum.

Executive director of communications at Bank Indonesia, Tirta Segara, says the decision was made Thursday at the conclusion of a two-day meeting of its Board of Governors.

He said the move was consistent with greater room to ease monetary policy along with a solid macroeconomic stability, decrease of inflationary pressures as well as ease of global uncertainties.

The cut was expected to bolster economic growth momentum while maintaining macroeconomic stability.

The key interest rate was lowered in January and again last month after staying at 7.5 percent since February 2015.