Friday, July 22, 2016

BI Mantained The Benchmark Rate at 6.50% and the BI 7-Day (Reverse) Repo Rate at 5.25%

Economic Research
22 July 2016
Indonesia

Economic Highlights




Bank Indonesia (BI) board of governors’ meeting decided to maintain the BI rate at 6.50% on 21st July 2016. Similarly, the lending and deposit facility rates were also maintained at 7.00% and 4.50% respectively. In addition, BI announced that the BI-7 Day (Reverse) Repo rate, which will become the benchmark rate effective on 19 August 2016, would be maintained as well at 5.25%. The decision was made given that inflation remains low, current account deficit remains healthy and the currency is relatively stable. Meanwhile, BI assures that looser monetary and macroprudential policies will bolster economic growth momentum in the period ahead.


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