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Indonesia central bank cuts benchmark rate to 7.25%

The headquarters for Bank Indonesia are seen standing in Jakarta, Indonesia, on Tuesday, Nov. 17, 2015.
Dimas Ardian | Bloomberg | Getty Images
The headquarters for Bank Indonesia are seen standing in Jakarta, Indonesia, on Tuesday, Nov. 17, 2015.

Indonesia's central bank on Thursday cut its benchmark interest rate by 25 basis points to 7.25 percent to support sagging economic growth, the first rate change in 11 months.

Bank Indonesia (BI) also cut its overnight deposit facility rate and lending facility rate by 25 basis points to 5.25 percent and 7.75 percent, respectively.

Ten of 16 analysts in a Reuters poll had expected a cut of the policy rate by 25 basis points, with the rest voting for a hold.

Annual inflation in December was at a six-year low of 3.35 percent, inside BI's target range of 3-5 percent for 2015 and 2016.

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