View of Jakarta, Indonesia.

U.S. judge blocks Trump administration’s ban on new TikTok downloads

Bank Indonesia cut the 7-day reverse repurchase rate by 25 basis points to 4.50% despite economists’ expectations of a hold, reports Reuters.

Other policy rates, including the deposit facility and lending facility were also cut by the same amount, to 3.75% and 5.25%, respectively.

After six rate cuts last year, the central bank has still struggled to push growth above the 5% pace, with President Joko Widodo’s 7% target looking increasingly out of reach.

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