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The Canadian Press - ONLINE EDITION
Indonesia's central bank lowers key interest rate by quarter percentage to 5.75 per cent
JAKARTA, Indonesia - Indonesia's central bank lowered its benchmark interest rate by a quarter percentage point to 5.75 per cent to counter a weakening global economy.
Bank Indonesia spokesman Difi Johansyah said Thursday the decision was a further step to boost Indonesia's economic growth amid a weakening outlook for the world economy.
The central bank maintained the benchmark rate at 6 per cent over the past two months after cutting it by a total of 75 basis points in October and November to fend off a world slowdown.
Indonesia's economy grew 6.5 per cent last year, the fastest pace since the 1997-98 Asian crisis.
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