Finance

Lite

Following the BI Rate, Deposit Interest Rates Begin to Rise in Q3 2022

Adi Ahdiat 25/11/2022 16:10 WIB

Bagikan URL has been copied

Memuat...

Interest rates on general bank deposits started to rise in the third quarter of 2022, following the increase in the central bank's benchmark interest rate.

Bank Indonesia's Reference Interest Rate and General Bank Deposit Interest Rates (January 2019 - September 2022)

A Font Kecil
A Font Sedang
A Font Besar

Access single data

Following the BI Rate, Deposit Interest Rates Begin to Rise in Q3 2022

Want to get more access to Data Stories with a more affordable price? Subscribe.

By subscribing, you join us in presenting quality data.

Get:

Premium Data Stories access
Comfortable reading without ads
Download data in XLS, PDF, and image format
Access to data source information

Basic

~~Rp100.000~~

Rp50.000/month

Professional

~~Rp100.000~~

Rp150.000/month

Institutional For organizations

We accept the following payments:

Some payment methods are still in the process of being activated.

Bank Indonesia's Reference Interest Rate and General Bank Deposit Interest Rates (January 2019 - September 2022)

Download

Source

A Small
A Medium
A Bigger

To curb inflation, Bank Indonesia (BI) has been raising its benchmark interest rate, the 7-Days Reverse Repo Rate (BI7DRR), since August 2022. Consequently, deposit interest rates have also increased.

Previously, 12-month deposit interest rates at commercial banks had been declining since mid-2019 until the middle of this year. Then, starting in August 2022, the trend of deposit interest rates rose again, driven by the central bank's interest rate hikes.

At the end of Q3 2022, the 12-month deposit interest rate at commercial banks reached 3.52%, a 25 basis points (bps) increase compared to the end of Q2.

BI also continued to raise its benchmark interest rate, reaching 5.25% in November 2022. However, the central bank has not yet released data on deposit interest rate developments for November 2022.

Generally, BI projects that the increase in banking interest rates remains limited due to still-ample liquidity conditions.

"The 1-month deposit interest rate in October 2022 rose to 3.40% from 2.89% in July 2022, while the October 2022 credit interest rate increased marginally to 9.09% from 8.94% in July 2022," BI stated in a press release last week (November 17, 2022).

"The limited increase in interest rates is in line with still-loose liquidity, which prolongs the lag effect of policy interest rate transmission on funding and credit interest rates," it continued.

BI also projects that the inflation rate will remain high until the end of this year, thus opening up the possibility of further interest rate hikes.

"The November 2022 consensus forecast shows expectations of inflation at the end of 2022 remaining high, at 5.9% (yoy), although lower than the previous month's 6.7% (yoy). With these developments, Bank Indonesia will strengthen its monetary policy response to lower inflation expectations, which are currently still high," said BI.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

Related Data

Age Group of "Female Breadwinners" in Indonesia 2024, The Majority are Elderly

Realization of Regional Expenditure of Toli Toli Regency Government as of December 2025

South Sumatra's Provincial Minimum Wage to Increase by 7.10% in 2026

Food Consumption Insufficiency Rate of Tegal City Residents Decreased by 5.02% in 2024

New MBG Budget Realization Absorbed by 61.23% as of Early November 2025

Realization of Jepara Regency Government's Local Own-Source Revenue (PAD) as of December 2025

Latest Data Stories

Central Kalimantan's 2026 Provincial Minimum Wage Rises to Rp3.69 Million Employment 23/12/2025, 17:28 WIB

Indonesian Rupiah Weakens to Rp 16,660 per US Dollar (Tuesday, May 13, 2025) Market 23/12/2025, 17:16 WIB

West Nusa Tenggara's 2026 Provincial Minimum Wage Rises to Rp2.67 Million Employment 23/12/2025, 17:15 WIB

The price of fresh chicken in Bali's traditional markets has increased by 4.12% over the past month. Economics & Macro 23/12/2025, 17:13 WIB

Today's Food Prices (23/12) in East Java: Garlic Rises, Red Chilies Drop Economics & Macro 23/12/2025, 17:08 WIB

Daily Chicken Egg Prices at South Sumatra Province's Modern Markets Decreased by 0.73% in the Last Month Economics & Macro 23/12/2025, 17:03 WIB

Download

Source

Following the BI Rate, Deposit Interest Rates Begin to Rise in Q3 2022

Following the BI Rate, Deposit Interest Rates Begin to Rise in Q3 2022

Tags

Related Data

Age Group of "Female Breadwinners" in Indonesia 2024, The Majority are Elderly

Realization of Regional Expenditure of Toli Toli Regency Government as of December 2025

South Sumatra's Provincial Minimum Wage to Increase by 7.10% in 2026

Food Consumption Insufficiency Rate of Tegal City Residents Decreased by 5.02% in 2024

New MBG Budget Realization Absorbed by 61.23% as of Early November 2025

Realization of Jepara Regency Government's Local Own-Source Revenue (PAD) as of December 2025

Latest Data Stories

Popular Data

Following the BI Rate, Deposit Interest Rates Begin to Rise in Q3 2022

Following the BI Rate, Deposit Interest Rates Begin to Rise in Q3 2022

Tags

Related Data

Age Group of "Female Breadwinners" in Indonesia 2024, The Majority are Elderly

Realization of Regional Expenditure of Toli Toli Regency Government as of December 2025

South Sumatra's Provincial Minimum Wage to Increase by 7.10% in 2026

Food Consumption Insufficiency Rate of Tegal City Residents Decreased by 5.02% in 2024

New MBG Budget Realization Absorbed by 61.23% as of Early November 2025

Realization of Jepara Regency Government's Local Own-Source Revenue (PAD) as of December 2025

Latest Data Stories

Trending Topics

Popular Data