JAKARTA: Indonesia's central bank on Thursday held its benchmark interest rate at 6 percent amid stable inflation and in anticipation of a global economic slowdown.
"The board of governors considered that the current rate was still consistent with our inflation target and conducive to financial stability and reduce the impact of global economic slowdown on Indonesia's economy," a central Bank Indonesia statement said.
The consumer price index, a measure of inflation, rose 4.15 percent in November from the same period a year ago and 0.34 percent month-on-month, according to the Central Statistics Agency.
In October, Bank Indonesia made a major slash to its overnight benchmark rate from 6.5 percent to 6 percent, the second cut in two months after prices dropped 0.12 percent in October from September.
Bank Indonesia predicted a 6.5 percent economic expansion for the fourth quarter and an annual expansion of 6.5 percent by the year end.
"Growth is supported particularly by strong domestic demand and relatively stable exports," the statement said.
The government has estimated that exports will be worth $200 billion by the end of the year.
Indonesia's foreign exchange reserve stood at $111.3 billion at the end of November, down from $113.9 billion at the end of October, according to Bank Indonesia data.
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