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MNI BRIEF: Bank Indonesia Cuts Growth Forecast, Rates On Hold

MNI (Sydney)
SYDNEY (MNI)

Bank Indonesia has cut its growth forecast for the second time this year, but has left its benchmark interest rate unchanged. As anticipated, Indonesia's central bank kept the benchmark seven-day reverse repurchase rate at a record low of 3.5%. Growth expectations were downgraded to a range of 4.1% to 5.1% this year from 4.3% to 5.3% previously. In March, the forecast was cut by 50 basis points.

MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com
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MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com
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