Bank Indonesia says too early to discuss rate cuts

CEBU, Philippines: It's too early for Indonesia's central bank to consider cutting interest rates, a member of the bank's board of governors said on Monday, even as the country's inflation eases but concerns over slowing growth mount as exports slow.

Bank Indonesia (BI) has kept policy rates unchanged since its last rate hike in January and repeatedly said its rate hikes, totalling 225 basis points since last year, were sufficient to guide inflation back to within target in the second half of 2023.