ANZ analysts note that the Bank Indonesia (BI) lowered its 7-day reverse repo rate by 25bps to 5.25% today, marking its third straight month of rate cuts.
Key Quotes
“The decision reflects BI’s desire to support growth pre-emptively. BI also announced a relaxation of macroprudential policies in a bid to bolster loan growth.”
“Given the still-challenging growth environment, further easing looks likely. We continue to see scope for at least one more 25bp rate cut in Q4.”
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