Indonesian central bank cuts policy rate to 5.5% as rupiah stabilizes
Central bank lowers its benchmark by 25 basis points in first cut since January
Bundles of rupiah notes: The Indonesian central bank's rate-cut decision comes as the country's currency rebounds from an all-time low in the forex market. © Reuters
NANA SHIBATA
JAKARTA -- Indonesia's central bank announced a cut to its policy rate on Wednesday, amid recent interventions to stabilize the rupiah and support economic growth.
Bank Indonesia cut its benchmark seven-day reverse repo rate by 25 basis points to 5.5%, the first rate cut since January this year.
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