Indonesia cuts reverse repo rate to 4.5%

Lendings and deposit facility rates also fell by 25bps.

Bank Indonesia (BI) cut its benchmark 7-day reverse repo rate to 4.5%.

According to UOB, the lending and deposit facility rates also fell by 25bps to 5.25% and 3.75% respectively.

This is BI's first rate cut in ten months since October 2016.

Out of 28 analysts polled by Bloomberg, 6 expected the rate to move after BI Governor Agus Martowardojo said earlier this month that BI is not closed to the possibility of further easing.

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