At its 13 September monetary policy meeting, the Central Bank left its BI rate unchanged at a record low 5.75% for the seventh straight month, in a move that was widely expected by the market. Bank Indonesia upheld its decision by stating that the current policy rate is consistent with inflation forecasts. The Central Bank stressed that worsening global economic growth "may put pressure on the current account balance". That said, the Bank reassured that it expects Indonesia's economy to maintain momentum in the short term. Regarding price developments, policy makers underlined that inflation remains benign and is expected to stay within the Bank's target range of 4.5% plus/minus 1.0% going forward.
Indonesia Monetary Policy
Central Bank keeps interest rate unchanged at 5.75%
September 13, 2012
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Indonesia Monetary Policy Chart
Note: BI rate in %.
Source: Bank Indonesia.
Indonesia Economic News
October 20, 2016
At its 19–20 October monetary policy meeting, Bank Indonesia decided to cut the BI seven-day Reverse Repo rate (BI seven-day RR rate) from 5.00% to 4.75%.
October 17, 2016
Indonesia’s trade surplus rose in September to a 14-month high as imports deteriorated.
October 12, 2016
Retail sales in August expanded 14.4% over the same month last year, according to Bank Indonesia’s Retail Sales Survey (RSS).
October 3, 2016
In September, consumer prices increased 0.22% from the previous month, which contrasted the 0.02% fall recorded in August.
October 3, 2016
The manufacturing Purchasing Managers’ Index (PMI) rose from 50.4 in August to 50.9 in September, according to a release provided by Nikkei and IHS Markit.