INDONESIA

Indonesia’s central bank last Thursday cut interest rates for the fourth time this year, with the key lending rate falling 25 basis points to 4%, days after the government warned of a looming recession. Bank Indonesia Perry Warjiyo said the rate cut was a “further step” to spur the struggling economy, adding that there were signs of a recovery as a stimulus plan kicks in and virus restrictions are eased. “But we’re not back to pre-pandemic levels,” he warned.