Indonesia's central bank cut rates on Wednesday for the fourth time since September and said a revised tariff deal with the United States was positive for Southeast Asia's biggest economy amid weakening global trade and slowing domestic demand.

US President Donald Trump said he has settled on another tariff deal - this time with Indonesia. Trump said he had agreed to lower tariffs he had threatened on goods entering the US from Indonesia to 19%, in exchange for what he called "full access" for American firms.

Donald Trump has announced that Indonesia will pay a 19 per cent tariff on exports to the US after Washington and Jakarta agreed a trade deal. The US president said he had spoken to his Indonesian counterpart Prabowo Subianto, and that the deal with Jakarta will give the US “full access to Indonesia, everything”.