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JAKARTA - Indonesia’s central bank cut its benchmark interest rate for the sixth time since May and said borrowing costs may be reduced again in December, after inflation slowed to a two-year low and the currency strengthened. Bank Indonesia Governor Burhanuddin Abdullah and his fellow policy makers cut the rate used as a reference for bill sales by half a percentage point to 10.25%.
Indonesia still has the highest rates among Asia’s 12 biggest nations, after borrowing costs were lifted to a three-year high of 12.75% last year to defend the rupiah and stem inflation. Lower borrowing costs will help companies such as PT Lippo Karawaci resume construction projects and boost demand for homes, cars and electronics in Southeast Asia’s largest economy.
The government last month cut its growth forecast for this year to 5.6% from 5.8% after investment rebounded by less than expected. ‘‘The cuts sends a positive signal to the market,’’ said Vera Eve Lim, chief financial officer of PT Bank Danamon.
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