Updated Saturday, July 4, 2009 12:01 am TWN, AFP

Indonesia cuts key rate by 25 basis points

JAKARTA -- Indonesia's central bank cut its benchmark interest rate by 25 basis points to 6.75 percent Friday in a bid to stimulate the economy as inflationary pressures ease.

The cut was expected after the annual inflation rate dropped to 3.65 percent from 6.04 percent in May. Bank Indonesia said the economy would grow 3.0 to 4.0 percent this year, compared with 6.1 percent in 2008.

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