Free Trial

Bank Indonesia Stands Pat, Changes Name Of Key Rate

INDONESIA CENTRAL BANK

Bank Indonesia kept its 7-Day Reverse Repo Rate unchanged at 6.00%, as anticipated in our preview and as expected by all economists surveyed by Bloomberg ahead of the meeting. The decision is a second consecutive hold by the Indonesian central bank.

  • Bank Indonesia maintained its GDP growth forecasts at +4.5-5.3% Y/Y for 2023 and +4.7-5.5% Y/Y for 2024. The central bank sees inflation at +2%-4% Y/Y in 2023.
  • Governor Perry Warjiyo announced that the name of the key policy rate will be changed to BI Rate from 7-Day Reverse Repo Rate without changing its function and objectives.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.