Indonesia cuts rates to bolster recession-hit economy

Bank Indonesia governor Perry Warjiyo.

JAKARTA (AFP): Indonesia's central bank slashed interest rates again Thursday (Nov 19) after the Covid-19 pandemic pushed Southeast Asia's biggest economy into its first recession in more than 20 years.

Bank Indonesia cut the key lending rate by 25 basis points to 3.75 per cent, its fifth rate reduction this year, as the global health crisis slams the brakes on growth.