medcom.id, Jakarta: Bank Indonesia (BI) for the third consecutive times cut its benchmark interest rate (BI rate). BI rate was lowered 0.25 point to 6.75 percent in this month's BI Board of Governors Meeting.
BI also cut lending facility rate to 7.25 percent and deposit facility rate to 4.75 percent.
BI spokesperson Tirta Segara mentioned the decision is consistent with greater room to ease monetary policy along with solid macroeconomic stability and decreasing uncertainty in global financial market.
He added BI expected the cut could enhance domestic demand to bolster economic growth.
"The Board of Governors will be cautious in determining future monetary easing, taking into account overall assessments and forecast of domestic macroeconomy and financial systems stability, as well as global economic developments," he stated at a press conference, Jakarta, Thursday (3/17/2016)
BI has lowered its rate gradually since January. Previously, BI maintained its rate at 7.5 percent from February to December 2015.
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