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May 30, 2017

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Jakarta holds interest rate at 5.75% for 9th straight month

JAKARTA -- Indonesia's monetary authority held its key interest rate at 5.75 percent for the ninth consecutive month after inflation continued to ease, the governor of Bank Indonesia said Thursday.

"The interest rate is still in line with current low inflation," central bank governor Darmin Nasution told reporters, adding that Indonesia "grew quite well" despite slowing down amid global economic turbulence.

"Our economic growth will continue to be supported by strong domestic demand ... despite being overshadowed by global economy uncertainty," he said.

Southeast Asia's largest economy bounced along at 6.5 percent last year but the governor said that the economy is expected to slow to around 6.3 percent, when third quarter figures are released later this month.

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