Friday, the Indonesian central bank reduced its key interest rate for the fifth consecutive month to record low.
Considering the economic and financial developments, the Bank Indonesia decided to cut the BI rate by 25 basis points to 7.5%. The decision came in line with economists' expectations.
The economy grew at its slowest pace in more than two years in the fourth quarter of 2008. The gross domestic product grew 5.2% year-on-year in the fourth quarter. Earlier, Deputy Chief of Bank Indonesia, Hartadi Sarwono said economic growth may slow to below 4% in 2009 from 6.1% recorded last year.
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