July 14, 2015 / 8:38 AM / 2 years ago

Indonesia's May loan growth steady at 10.4 pct y/y

JAKARTA, July 14 (Reuters) - Indonesia’s year-on-year loan growth in May was 10.4 percent, the same pace as April‘s, the central bank said on Tuesday.

Despite a slowdown in the economy, Bank Indonesia refrained from aiding growth with an interest rate cut at its policy meeting on Tuesday. It kept its key policy rate at 7.50 percent, unchanged since February.

But earlier this month, the central bank eased lending rules in an effort to stimulate credit expansion.

The central bank sees loan growth at 11-13 percent this year.

Meanwhile, broad money supply (M2) rose 13.4 percent year-on-year in May compared with 14.9 percent in April. (Reporting by Gayatri Suroyo; Editing by Jacqueline Wong)

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