Indonesia Surprises Markets With a Rate Cut; Rupiah Slides.

Indonesia surprised markets by cutting its key interest rate to 5.75%, contrary to expectations of maintaining it at 6%. The decision aimed to boost economic growth despite the rupiah's recent depreciation. The central bank's shift towards supporting growth aligns with President Prabowo Subianto's goal of accelerating growth to 8%. The move also reflects a focus on stability and growth in the face of global economic dynamics and inflation targets. [Extracted from the article]