JAKARTA, Nov 17 (Reuters) - Indonesian Vice President Jusuf Kalla said on Tuesday the central bank, which is about to begin its monthly policy meeting, should cut its benchmark interest rate.
“There is no country that raises its rates in times of crisis. Don’t let that happen again, rates must go down,” Kalla told an economic seminar.
“There wouldn’t be any investment when interest rate is high,” he added.
Economists in a Reuters poll said Bank Indonesia (BI) will hold its rate at 7.50 percent, where it has been since February, in the wake of rising expectations of a rate hike in the United States next month.
BI has said it sets policy independently from the government. (Reporting by Hidayat Setiaji; Writing by Gayatri Suroyo)