JAKARTA -- Indonesia's central bank has cut its policy rate for the sixth time this year to 4.75%, citing slower-than-expected credit growth, and defying most analysts' expectations.
Bank Indonesia on Thursday announced another 25-basis-point cut to its seven-day reverse repurchase rate -- the second cut to the new policy rate since its introduction in August. Combined with the cuts to its previous benchmark, the overnight reference rate, Thursday's cut is the bank's sixth this year.
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