Economics
Indonesia Seen Cutting Rates Again Amid Pandemic
- Most economists in survey expect Bank Indonesia to lower rate
- As many as 2.8 million jobs lost as economic crisis deepens
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Indonesia’s central bank is expected to lower borrowing costs for a third straight month as policy makers take unprecedented steps to bolster the economy amid the coronavirus pandemic.
Bank Indonesia will cut its benchmark rate by 25 basis points Tuesday to 4.25%, according to 18 of 28 economists surveyed by Bloomberg. One economist predicted a 50 basis-point cut, while nine expect no change.