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Economy

Bank Indonesia holds interest rate steady amid Trump-related uncertainty

Indonesia's central bank has cut its policy rate six times since January to boost lending and drive the economy.

JAKARTA -- Bank Indonesia on Thursday put a stop to its policy rate cut streak, keeping its benchmark seven-day reverse repurchase rate at 4.75% on the back of global economic uncertainty arising from Donald Trump's election win in the U.S. presidential election.

"Indonesia has thus far been able to maintain its economic stability. We believe that the economy is in good condition with the stable currency and inflation rates. Current account deficit is good, trade balance is good," Bank Indonesia Gov. Agus Martowardojo told a press conference after a two-day meeting of the bank.

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