BI Again Asks Banks to Lower Credit Rates

    Annisa ayu artanti, Christopher Harindra - 29 November 2019 13:36 WIB
    BI Again Asks Banks to Lower Credit Rates
    Bank Indonesia Governor Perry Warjiyo (Photo: BI)
    Jakarta: Governor of Bank Indonesia (BI) Perry Warjiyo once again asked the country's banks to immediately reduce their lending rates. 

    He said this before President Joko “Jokowi” Widodo and several banking players at the 2019 Bank Indonesia Annual Meeting.

    According to Perry, it is time for banks to reduce lending rates in line with the reduction in benchmark interest rate that has been carried out by the central bank so far.

    Naturally, these conditions triggered banks to want to reduce lending rates in order to stimulate economic activities.

    "We expect banks to accelerate the reduction in lending rates," Perry said, at the 2019 Bank Indonesia Annual Meeting, at the Raffles Hotel, Jakarta on Thursday night, November 28, 2019.

    Perry ensured the adequacy of bank liquidity going forward. The central bank will also continue to implement accommodative monetary policies in 2020.  Based on these policies, it is hoped that banks will immediately reduce their lending rates.

    Based on data from Bank Indonesia until September 2019 lending rates have begun to decline, especially in investment loans and working capital loans, each recorded at 10.04 percent and 10.26 percent.


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