By Prisca Akhaya – bno Surabaya Office Bank Indonesia (BI) is expected to reduce its benchmark interest rate, or BI-rate, twice by a total of 50 basis points (bps) by the end of 2024, Kontan.co.id reported. Senior Economist at Bank Permata, Faisal Rachman, noted that BI has the capacity to lower its interest rate this year, in line with controlled inflation and the US Federal Reserve’s interest rate policy. Currently, domestic inflation stands at a low 2.13% as of July 2024. ‘This opens up the possibility for BI to make one or two rate cuts this year,’ Faisal stated during a discussion on Augu…