March 22, 2018 / 8:34 AM / a month ago

Indonesia Jan loan growth at 7.40 pct y/y - regulator

JAKARTA, March 22 (Reuters) - Indonesia’s loans at the end of January were 7.4 percent larger than a year earlier, data from the financial services regulator showed on Thursday.

Loan growth was down from 8.35 percent in December 2017, when the pace picked up from the previous month’s 13-month low.

The regulator, known as OJK, has said it expects more than 12 percent loan growth this year.

Indonesia has been struggling to get higher loan growth. The central bank cut its key interest rate by a total of 200 basis points in 2016 and 2017.

Reporting by Nilufar Rizki; Writing by Kanupriya Kapoor; Editing by Richard Borsuk

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