Indonesia’s central bank expects economic growth to slightly improve in the third quarter and reach a range of 5.1-5.2%, a senior official told reporters on Friday, Reuters reported. The acceleration from the 5.01% growth in the second quarter may come from improving private consumption, said Dody Budi Waluyo, Bank Indonesia’s executive director of economic and monetary policy, pointing to the result of August survey of retail sales. Waluyo said the impact of BI’s benchmark rate cut last month to credit growth would take two to three quarters to materialize. Thus, it would affect 2018 GDP growth more than this year, he added.
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