Indonesia trade minister sees no further 2007 rate cut

"Not for the time being. We are keeping a close eye on inflation," Pangestu was quoted by Reuters as telling reporters on the sidelines of a conference in Singapore.

October consumer prices in Indonesia rose 6.88 percent from a year earlier, faster than a 6.80 percent rise forecast by analysts. However, the central bank expects inflation in November to be more subdued than the previous month due to an easing in food price pressure.

Pangestu said economic growth was as projected.

Indonesia's state budget is forecasting growth at 6.3 percent this year, which would be its fastest pace in 11 years, and its 2008 budget sets a growth target of 6.8 percent.