Gundy Cahyadi, an economist with DBS in Singapore, said the bank could follow up with another rate cut this quarter - depending on the stability of the rupiah.
"Certainly, this is not a done-deal, given how BI will still focus on maintaining rupiah stability in the market, amidst the lingering uncertainties in global markets."
Capital Economics' Daniel Martin said: "Looking ahead, with the economy growing at its weakest pace since the global financial crisis and inflation set to remain low, further loosening looks likely."