Indonesia’s central bank cut its benchmark interest rate by half a percentage point Wednesday to 8.25%, and hinted that another reduction is likely to aid the flagging economy as inflation eases. The latest inflation data indicate waning demand as domestic consumers feel the impact of the global slowdown. The government expects growth to slow to 5% this year from an estimated 6% in 2008.
Source: PA Asia - Public Affairs and CSR from the Wall Street Journal, p.8, 5 February 2009
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