Illustration (Photo:Medcom.id)
Illustration (Photo:Medcom.id)

BI's Key Interest Rate Held at 3.75%

English indonesian economy
Husen Miftahudin • 21 January 2021 18:04
Jakarta: The Board of Governors of Bank Indonesia (BI) today announced its decision to hold the BI 7-Day Reverse Repo Rate at 3.75%.
 
The Board also decided to maintain the Deposit Facility (DF) rates at 3.00% and Lending Facility (LF) rates at 4.50%.
 
"The decision is consistent with projected low inflation and maintained external stability as well as efforts to support the economic recovery," said BI Governor Perry Warjiyo said here on Thursday. 

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According to him, the central bank has strengthened policy synergy with the Government and other relevant authorities and supports the various follow-up policies to build national economic recovery optimism through the gradual reopening of productive and safe economic sectors, while accelerating fiscal stimuli, increasing bank lending on the demand and supply sides, maintaining monetary and macroprudential stimuli as well as expediting economic and financial digitalisation.  
 
In addition to those policies, Bank Indonesia has also implemented other measures, such as maintaining rupiah exchange rate stabilisation policy in line with the currency's fundamental value and market mechanisms.
 
Moving forward, the central bank will continue to direct all policy instruments towards supporting the national economic recovery, while controlling inflation and maintaining rupiah exchange rate stability and financial system stability.  
 
Furthermore, close policy coordination with the Government and Financial System Stability Committee will constantly be strengthened in order to maintain macroeconomic and financial system stability, as well as accelerate the national economic recovery.  
 
"The focus of policy coordination is oriented towards overcoming supply and demand-site constraints in terms of bank lending to priority sectors in order to support economic growth and the national economic recovery," he stated.
 
(WAH)
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