At its 8 November monetary policy meeting, the Central Bank left its BI rate unchanged at a record-low 5.75% for the ninth 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 noted that global economic growth remains weak and continues to be overshadowed by uncertainty. On the other hand, the Bank reassured that Indonesia's economy "remains sound, although slowed slightly" and that GDP growth is expected to reach 6.3% in 2012 and to range between 6.3% and 6.7% in 2013. Regarding price developments, policymakers underlined that inflation remains contained 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 holds rate for ninth straight month
November 8, 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.