CCTV.com - CNTV English - CCTV News

Bank Indonesia cuts benchmark rate

02-10-2012 14:00 BJT

Watch Video

Play Video

Indonesia's central bank threw markets a curve ball. For the first time in three months, it unexpectedly cut its benchmark interest rate to support growth amid deteriorating external conditions.

Bank Indonesia lowered the reference rate by a quarter of a percentage point to 5.75 percent from 6. Indonesia joins other Southeast Asian nations such as the Philippines and Thailand in cutting borrowing costs over the past month.

The government there is becoming increasingly worried over shrinking external demand if Europe’s debt crisis continues on the track that its on.

It now predicts that the Indonesian economy could expand less than 6 percent this year, down from 6 and a half percent in 2011.

To deal with risks, the central bank has reduced the rate by a cumulative 100 basis points since October of last year.

 

Editor:Zhang Rui |Source: CNTV.CN

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program