The Central Bank (Bank Indonesia/BI) lowered its 7-day reverse repo rate by 25bps to 5% during its October meeting, as widely expected. It is the fourth consecutive rate cut, bringing borrowing costs to the lowest since May last year, in an attempt to boost economic growth amid low inflation expectations. The overnight deposit and lending facilities were also trimmed by the same amount to 4.25% and 5.75%, respectively.
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