Bank Indonesia Decides Bi-Rate to Increase 25 Bps to 6.25%

Jakarta, Properti Indonesia - The Bank Indonesia Board of Governors (RDG) meeting which was held on 23-24 April 2024 finally decided to increase the BI-Rate by 25 bps to 6.25%, the Deposit Facility interest rate by 25 bps to 5.50%, and the Lending Facility interest rate was 25 bps to 7.00%.

In its statement, Wednesday (24/4), Bank Indonesia said that the increase in interest rates was to strengthen the stability of the Rupiah exchange rate from the impact of worsening global risks and as a pre-emptive and forward looking step to ensure inflation remains within the target of 2.5 ± 1% in 2024 and 2025 in line with a pro-stability monetary policy stance.

Meanwhile, macroprudential policies and the payment system remain pro-growth to support sustainable economic growth. According to BI, loose macroprudential policies continue to be pursued to encourage banking credit/financing to businesses and households.

Meanwhile, payment system policies are directed at strengthening the reliability of the payment system infrastructure and industrial structure, as well as expanding acceptance of payment system digitalization.

To maintain stability and support sustainable economic growth amidst increasing global financial market uncertainty, Bank Indonesia continues to strengthen the mix of monetary, macroprudential and payment system policies.

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