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rdf:type	schema:NewsArticle
schema:articleBody	Indonesia's central bank on Thursday cut interest rates for the third time this year and scaled back its growth projections as the global pandemic batters Southeast Asia's biggest economy. Policymakers at Bank Indonesia reduced the key lending rate by 25 basis points to 4.25 percent, while lowering their full-year economic growth forecast to between 0.9-1.9 percent, from a previous 2.3 percent. The move comes days after the government warned of a 3.1 percent contraction in the second quarter -- the latest in a series of downward revisions. Central bank governor Perry Warjiyo signalled there was "still room" to cut rates further in the coming months, but added that he expected growth to rebound next year. "This (rate) decision is consistent with efforts to maintain stability and boost the economy during the COVID-19 era," he said Thursday. Indonesia has announced a stimulus package worth some $48 billion to help offset the impact of coronavirus, which forced a wide-scale shutdown that hammered growth, including in the key tourism sector. "We expect further gradual easing over the coming months," research house Capital Economics said, citing a "very poor outlook" for the economy. "Virus containment measures are having a huge impact on the economy," it added. This month, the Southeast Asian archipelago, home to nearly 270 million people, said it was rolling out a "new normal" policy that included gradually easing movement restrictions in a bid to head off economic collapse. But Indonesia's infections are mounting with cases topping 40,000 on Wednesday, surging beyond neighbouring Singapore to mark the region's highest. The country has also recorded 2,276 deaths. But with one of the world's lowest testing rates, the true scale of the public health crisis is widely believed to be much bigger. dsa-pb/dan
schema:headline	Indonesia's central bank cuts rates as economy tanks
schema:mentions	Central bank Southeast Asia Asia Public health Singapore Indonesia Pandemic Virus Severe acute respiratory syndrome coronavirus 2 Perry Warjiyo Bank Indonesia Capital Economics Archipelago The Move Microsoft Outlook
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-06-18 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	neutral sentiment
http://data.cimple...readability_score	75 (xsd:integer)
http://data.cimple...tology#hasEmotion	sadness

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