Indonesia's central bank said the rupiah's fall against U.S. dollar was still under control, after the currency slid to its weakest level in more than six months on Thursday following a surprise cut in interest rates the day before.

Indonesia’s central bank caught markets off guard with a surprise rate cut, upending expectations that it would keep policy settings on hold to help stabilize the rupiah.

Indonesia’s central bank defied the expectations of practically the entire market when it cut interest rates this week, deepening a period of uncertainty for government bond yields. Most Read from BloombergThese Homes Withstood the LA Fires.

Indonesia's central bank unexpectedly cut policy rates on Wednesday, resuming its monetary easing to prop up growth in Southeast Asia's largest economy despite financial market volatility that has sharply weakened the rupiah currency.

Indonesia unexpectedly reduced its key interest rate in its first monetary policy decision this year, moving to bolster economic growth even after the local currency recently weakened beyond the key level of 16,

Bank Indonesia (BI) slashed its benchmark interest rate by 25 basis points to 5.75 per cent, defying market expectations and signalling a shift in focus towards revitalising South-east Asia’s largest economy amid signs of a slowdown.

JAKARTA : Indonesia defied market expectations by cutting its key interest rate, moving to bolster economic growth even after the local currency’s recent slide beyond the key level of 16,000 to the dollar. Bank Indonesia (BI) lowered the benchmark BI-Rate by 25 basis points to 5.75% today.

Indonesia’s central bank has unexpectedly cut interest rates despite a weakening rupiah, citing slowing growth momentum in south-east Asia’s largest economy. Bank Indonesia on Wednesday reduced its benchmark interest rate by 0.