At its 12 July monetary policy meeting, the Central Bank left its BI rate unchanged at a record low 5.75% for the fifth straight month, in a move that was 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 the uncertainty regarding global economic growth has begun to affect the country's external sector and, therefore, the economy "is expected to chart lower growth relative to previous forecast". Accordingly, the Bank lowered its projection for 2012 economic growth to a range of between 6.1%-6.5% (previously: 6.3%-6.7%). Regarding price developments, policy makers underlined that inflation remains "in check" and is expected to stay within the Bank's target range of 4.5% plus/minus 1% going forward
Indonesia Monetary Policy
Central Bank leaves policy rate unchanged, lowers growth forecast
July 4, 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.