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Central bank cuts rate by 50 basis point to 8.75%
The Indonesian central bank Wednesday slashed its benchmark interest rate by 50 basis points to 8.75 percent following the good outlook of inflation to spur growth, according to a statement by the bank. The 50 basis point cut is in line with the recent demand from the government and business sector, as the country has decided to rely much on the huge domestic market following the fall of demand of its products in overseas.
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