As expected, on Thursday (Sep. 19), Bank Indonesia (BI) decided to cut its benchmark interest rate (BI-7day repurchase repo rate) by 25 basis points (bps) to 5.25%, in an attempt to boost economic growth amid low inflation expectations. It was the third straight cut in three months, amid growing concerns about global growth due to continued trade tensions and a number of geopolitical risks. The overnight deposit and lending facilities were also trimmed by the same amount to 4.50% and 6.00%, respectively.

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