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Bank Indonesia may cut benchmark rate for fourth time
A small majority of economists expect Bank Indonesia (BI) to cut its benchmark rate for the fourth straight month at its meeting this week to support the economy.
18 out of 30 analysts in a poll expected BI to trim the 7-day reverse repurchase rate by 25 basis points to 5.00% on Thursday, following 3 successive rate cuts amounting to 75 basis points. The remaining analysts see the rate at 5.25%.
“Recent data continue to point to sluggish economy activity, supporting the case for another rate cut,” ANZ’s economist Krystal Tan said as she noted signs of weakness in consumption growth reflected by falling car and motorcycle sales.
Economic growth in 2019 is set to slow for the first time in four years after being hit by sluggish investment and the weakening global economy from the U.S.-China trade war.
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
June had seen Japan’s industrial output breaking its four-month slump. The recuperation could be attributed to a modest recovery seen in broader business and consumer activity after the world’s third-biggest economy suffered from ...
Indonesia on Wednesday rolled out a 100 trillion Rupiah ($6.92 billion) loan guarantee scheme for prioritized businesses to keep them afloat as the COVID-19 situation continued to worsen around the world, the country’s finance minister ...
Spain’s unemployment rose to 15.33% for the second quarter of 2020, according to Tuesday’s data from the National Statistics Institute amid the worsening COVID-19 situation in the country. The unemployment rate surged past the ...
On Monday, Remington Arms Co. filed for bankruptcy protection for the second time since 2018 as the U.S. firearms manufacturer faced financial difficulties due to gun sales restrictions. According to the court filing, the company filed for ...
KYC Policy