Indonesia cuts rates to bolster recession-hit economy

Jakarta, Nov 21, 2020 (AFP): Indonesia's central bank have slashed interest rates again after the Covid-19 pandemic pushed South-East 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 percent, its fifth rate reduction this year, as the global health crisis slams the brakes on growth.