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Indonesia's Central Bank Interest Rate is the Third Highest in ASEAN

21/10/2016 10:55 WIB

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ASEAN Central Bank Interest Rates October 2016

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ASEAN Central Bank Interest Rates October 2016

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Bank Indonesia's (BI) benchmark interest rate is the third highest in ASEAN, after Vietnam and Brunei Darussalam. High inflation and the fluctuating exchange rate of the rupiah against the US dollar have resulted in higher domestic interest rates compared to other Southeast Asian countries such as Singapore and Malaysia.

Controlled inflation throughout 2016 prompted BI to again cut its benchmark interest rate, the BI 7-day Reverse Repo Rate, by 25 basis points to 4.75 percent. With this decrease in the benchmark interest rate, banks will also soon lower their base lending rates. High interest rates burden businesses seeking funding from banks, especially Micro, Small, and Medium Enterprises (MSMEs).

"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."

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Indonesia's Central Bank Interest Rate is the Third Highest in ASEAN

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