Breaking News, World News and Taiwan News.

Updated Friday, February 10, 2012 0:20 am TWN, AFP

Sponsors
▪	Buy china wholesale products from reliable chinese wholesalers on DHgate.com!
▪	Save 75% for all hotels in Shanghai, Beijing and whole China. Lowest rates for Flights in China.
▪	Get the best deals for Guangzhou Hotels or choose from more than 10,000 hotels in 499 Chinese cities.
▪	Find great real time deals on China Flights. Book flights to China or China domestic flights 24/7.

Indonesia cuts interest rate by 0.25% to record low amid slowdown threat

JAKARTA--Indonesia cut its benchmark interest rate to a record low of 5.75 percent on Thursday, as Southeast Asia's biggest economy tries to keep growth on track amid a global slowdown.

Bank Indonesia (BI), the country's central bank, lowered its overnight interest rate by one-quarter of a percent, the first cut in two months.

“The board of governors' meeting today decided to cut BI's rate by 25 basis points to 5.75 percent,” a bank spokesman said in a statement.

“This decision was made as a continuous step to provide stimulus for Indonesia's economic growth in the midst of the decreasing performance of the global economy,” he added.

The country's economy is still relatively strong, although slower growth is expected this year with easing inflation, the central bank spokesman said.

“The economic growth within the first quarter of this year was expected at 6.5 percent, while full-year growth could reach as low as 6.3 percent (down from 6.5 percent in 2011),” he added.

Subscribe to The China Post and save 25%. Click here