Following the Fed, Bank Indonesia Raises the BI 7-Day Reverse Repo Rate in September 2022

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Viva Budy Kusnandar 22/09/2022 16:10 WIB

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Following the Fed's move, Bank Indonesia raised the BI-7 Day Reverse Repo Rate (BI7DRR) again in September 2022. Details below.

Bank Indonesia 7-Day Reverse Repo Rate (July 2020 - September 2022)

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Following the Fed, Bank Indonesia Raises the BI 7-Day Reverse Repo Rate in September 2022

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Bank Indonesia 7-Day Reverse Repo Rate (July 2020 - September 2022)

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The Bank Indonesia (BI) Board of Governors (RDG) meeting held on September 21-22, 2022, decided to again raise the BI-7 Day Reverse Repo Rate (BI7DRR) by 50 basis points (bps) to 4.25%.

With this increase, the BI7DRR reached its highest level since mid-2020, as shown in the graph.

The RDG also raised the deposit facility interest rate by 50 bps to 3.5% and increased the lending facility interest rate by 50 bps to 5%.

BI Governor Perry Warjiyo stated that the decision to raise interest rates was a front-loaded, pre-emptive, and forward-looking measure to lower inflation expectations and ensure core inflation returns to the target of 3.0±1% in the second half of 2023.

"BI is also strengthening its policy to stabilize the Rupiah exchange rate in line with its fundamental value amid high global financial market uncertainty, amidst strong continued domestic economic demand," Perry said in a press release issued on Thursday (22/9/2022).

BI is also continuing to strengthen its policy mix response to maintain stability and the momentum of economic recovery as follows:

1. Strengthening monetary operations through an increase in the interest rate structure in the money market.
2. Strengthening Rupiah exchange rate stabilization by controlling inflation with interventions in the foreign exchange market.
3. Continuing the sale/purchase of SBNs in the secondary market to strengthen Rupiah exchange rate stabilization by increasing yield attractiveness.
4. Continuing the policy of transparency of the basic interest rate of credit (SBDK).
5. Encouraging the acceleration and expansion of the implementation of digital payment digitization in regions.
6. Encouraging the acceleration of achieving 15 million QRIS users and increasing the use of BI-Fast in payment transactions.

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."

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Following the Fed, Bank Indonesia Raises the BI 7-Day Reverse Repo Rate in September 2022

Following the Fed, Bank Indonesia Raises the BI 7-Day Reverse Repo Rate in September 2022

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History of Indonesian Government Debt Interest Payments, 2015-2024

Prevalence of Food Consumption Inadequacy in Purbalingga Decreased by 1.45% in the Last Year

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Average Length of Schooling in Depok City Up to Class X in 2025

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Following the Fed, Bank Indonesia Raises the BI 7-Day Reverse Repo Rate in September 2022

Following the Fed, Bank Indonesia Raises the BI 7-Day Reverse Repo Rate in September 2022

Tags

Related Data

History of Indonesian Government Debt Interest Payments, 2015-2024

Prevalence of Food Consumption Inadequacy in Purbalingga Decreased by 1.45% in the Last Year

Average Length of Schooling in Cimahi City Up to Grade X in 2025

Banyumas Residents' Food Consumption Insufficiency Rate Decreased by 7.98% in 2024

Average Length of Schooling in Depok City Up to Class X in 2025

South Sumatra Most Polluted in Indonesia Tonight (6/12)

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