A small majority of economists expect Bank Indonesia to cut its benchmark rate f...
JAKARTA - A small majority of economists expect Bank Indonesia to cut its benchmark rate for the fourth straight month at its meeting this week to support the economy, a Reuters poll showed on Monday.
“Recent data continue to point to sluggish economic activity, supporting the case for another rate cut,” ANZ’s economist Krystal Tan said, noting signs of weakness in consumption growth reflected by falling car and motorcycle sales. BI officials have said their main focus is maintaining momentum in Southeast Asia’s largest economy. Last month, they complemented a rate cut with relaxation of lending rules and changes to monetary operations aimed at boosting growth.
The median of 17 economists who gave longer-term forecasts expect the key rate to be brought down to 4.75% by the end of the first half of 2020.
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