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Indonesia's central bank surprises with rate cut, raises GDP outlook
JAKARTA : Indonesia's central bank cut interest rates again in a surprise move on Wednesday and flagged it could cut some more, as it stepped up support for Southeast Asia's largest economy against the backdrop of global uncertainties. Bank Indonesia (BI) trimmed the benchmark 7-day reverse repurchase rate by 25 basis points to 5.00 per cent, its fifth rate cut since September, taking it to its lowest level since late 2022. Only five of 29 economists polled by Reuters had expected a cut. The rest expected rates to be kept steady. Governor Perry Warjiyo told a press conference that the decision was in line with expectations of low inflation and a stable rupiah, as well as the need to bolster economic activity. GDP growth is expected to accelerate to around 5.1 per cent or higher in 2025, above the midpoint of BI's official outlook range of 4.6 per cent to 5.4 per cent, Warjiyo said, and compared with 5.03 per cent in 2024. "The capacity of the economy is still larger than the demand. That is why we have lowered interest rates ... and we will continue to assess room for further rate cuts," the governor said. Warjiyo was upbeat about growth prospects in the second half, citing the impact of BI's monetary easing and the acceleration of government spending. Wednesday's rate cut was BI's fifth since last September, with a total reduction of 125 basis points. It was the first time during the easing cycle that it has made cuts at consecutive meetings. The decision followed data earlier this month showing that economic growth accelerated to 5.12 per cent in the second quarter, the fastest annual pace in two years, driven by robust investment and household spending. Some economists questioned the strength of that data, pointing to indicators showing weakening domestic demand, while others have taken note of looming headwinds to growth caused by U.S. tariffs. "First-half growth may have come in stronger than expected, but the second half holds challenges given higher U.S. tariffs and still-fragile consumer confidence," said Maybank economist Brian Lee. Indonesia's exports to the United States have been subject to a 19 per cent tariff since August 7, the same level as Thailand, Malaysia, the Philippines and Cambodia. In a sign of demand remaining soft in the current quarter, July loan growth slowed to 7.03 per cent, the lowest since March 2022. BI blamed this on banks preferring to park excess liquidity in securities instead of lending and reducing their lending rates at a slower pace. "Bank Indonesia is clearly keen to support economic growth and, so long as inflation remains contained and the rupiah holds up well, there is probably scope for a bit more monetary easing over the coming months," Jason Tuvey, Capital Economics' analyst wrote in a note, predicting further cuts taking the benchmark to 4.50 per cent by year-end. Maybank's Lee forecast cuts of 50 bps more this year and another 50 bps next year to bolster growth, noting the government's 5.4 per cent growth target for 2026, which President Prabowo Subianto unveiled last week. Prabowo proposed to parliament a $234 billion budget for 2026, a 7.3 per cent increase from this year's budget outlook, with a large increase in spending for defence and his flagship food and nutrition programmes.
Independent Singapore
an hour ago
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'HR asked me about my family— Is this a job interview or personal audit?' Jobseeker asks
SINGAPORE: In a job interview where you want to be candid, truthful, and leave a good impression, what happens when the questions shift from your capabilities and work experiences to your personal life, like your family, your plans, or even your children? Recently, a Reddit user shared an experience that triggered an animated conversation: 'I had an interview with HR. She asked about my family situation, and I foolishly told her everything. Now that I think back, why did she want to know this? Is she even allowed to ask? Do companies pay people with [more kids?]' That one post opened the floodgates for stories and views from others who have faced the same awkward situation. What they shared revealed a troubling picture of hiring practices that still seem outdated. A red flag wrapped in small talk? At first glance, a question about your family might seem like innocent small talk. However, as one commenter noted, it's often a strategic probe in disguise: 'Red flag — interviewers should not ask about family matters. If it's directly related to the job, it seems appropriate.' Another commenter bluntly added: 'They want to know if the employees will be willing to work overtime because they don't have family. I am my own family.' The implication is clear. These questions may not aim to get to know you better; instead, they could be subtle tests to evaluate your availability, stability, or even your likelihood of needing parental leave. The cold calculus behind 'family-friendly' Despite government efforts to promote more family-friendly workplaces, many comments made it clear that numerous companies remain cautious about anything that might disrupt constant productivity, including employees with caregiving responsibilities. One commenter didn't hold back: 'To employers, paying women who give birth is not something they appreciate. From their perspective, they're paying someone who isn't working. Historically, they've pressured expecting women to quit to avoid payment.' They elaborated, illustrating the harsh logic some employers apply when making hiring choices: 'Imagine you're choosing between two similar recent graduates. One has a supportive, stable family. The other has to care for a sick mother, faces abuse from an alcoholic father, and teaches younger siblings. Which one, in their eyes, is more likely to focus on work?' Even HR professionals are tired of it Some people in HR also voiced out annoyance with obsolete hiring practices. 'I don't ask. The only reason I would is to ease the candidate's nervousness. But I know red-flag companies ask foolish questions like 'When are you planning to start a family?'… Even as part of HR, I roll my eyes at this old-fashioned mindset.' Another shared her own surreal interview experience: 'I had an interview in the past where they asked me why I needed to go home after work when I inquired about overtime. I just said I had things to do, and the interviewer looked at me with disdain. God forbid people have lives outside of work.' What's the real motive? So, why do some companies pry into your personal life during interviews? One answer stood out: 'Businesses and HR are not here just to help you. They want the best performance for the least risk. Knowing your family and home situation is beneficial to them, not you.' In other words, if a question feels too personal or inappropriate, it probably is. It's not about helping you find a good fit; it's about their screening for potential risks. In many countries and workplaces, inquiries about marital standing, children, or family plans are seen as inappropriate, and occasionally, even prohibited, under anti-discrimination regulations. But applying these rubrics can be complicated. Much relies on local labour laws, the way a question is framed, and how it's answered. You don't owe them your story If you're going into an interview, remember this: You are not required to share personal information unrelated to the job. It's fine to respectfully steer the conversation away from these topics or decline to answer. You are interviewing them just as much as they are interviewing you. If a company's first move is to pry into your private life under the cover of friendliness, think about whether that's a place where you want to invest your time and energy. After all, everyone deserves to work somewhere that appreciates them for their skills, not their family situation.
