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Bank Indonesia Holds September Benchmark Interest Rate at 4%

Dwi Hadya Jayani 17/09/2020 14:49 WIB

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The Indonesian central bank (Bank Indonesia)'s Board of Governors meeting on September 16-17, 2020, decided to maintain the benchmark interest rate at 4%.

Bank Indonesia Reference Rate (BI 7-Day Repo Rate)

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Bank Indonesia Reference Rate (BI 7-Day Repo Rate)

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The Bank Indonesia (BI) Board of Governors meeting on September 16-17, 2020, decided to maintain the benchmark interest rate at 4%. The same applies to the Deposit Facility rate at 3.25% and the Lending Facility rate at 4.75%. This decision was made considering the need to maintain rupiah exchange rate stability amid projected low inflation.

Currently, the global economy has entered a recovery phase. This development is driven by economic improvements in China and the United States, in line with the easing of the Covid-19 spread.

The same is happening in Indonesia; export performance has improved in line with rising global demand. Household consumption has improved due to fiscal stimulus, such as social assistance and the payment of a 13th-month salary for civil servants. Economic growth is projected to be around 4.8-5.8% in 2021.

Editor : Aria W. Yudhistira

"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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Bank Indonesia Holds September Benchmark Interest Rate at 4%

Bank Indonesia Holds September Benchmark Interest Rate at 4%

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Bank Indonesia Holds September Benchmark Interest Rate at 4%

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