Indonesia's Central Bank Maintains Its Key Rate at 5%

    Husen Miftahudin - 23 Januari 2020 18:17 WIB
    Indonesia's Central Bank Maintains Its Key Rate at 5%
    Illustration (Photo:Medcom.id/M Rizal)
    Jakarta: Bank Indonesia's Board of Governors agreed to maintain the BI 7-Day Reverse Repo Rate at 5.00 percent after holding a Board of Governors' Meeting on January 22-23, 2020.

    "While also maintaining the Deposit Facility (DF) and Lending Facility (LF) rates at 4.25 percent and 5.75 percent," BI Governor Perry Warjiyo told a press conference here on Thursday, January 23, 2020.

    According to him, monetary policy remains accommodative and is consistent with controlled inflation in the target corridor, maintained external stability as well as efforts to sustain domestic economic growth momentum.  Meanwhile, BI will continue to orient monetary operations towards maintaining adequate liquidity and supporting the transmission of an accommodative policy mix. In addition, BI will maintain accommodative macroprudential policy to stimulate economic financing in line with the suboptimal financial cycle, while also paying due consideration to prudential principles. 

    "Payment system policy and financial market deepening will be strengthened further in order to support economic growth," he noted.

    Going forward, teh central bank will monitor domestic and global economic development in using its room to implement an accommodative policy mix in order to maintain controlled inflation and external stability as well as to support economic growth momentum. 

    Furthermore, it will continue to strengthen coordination with the Government and other relevant authorities in order to maintain economic stability and catalyse domestic demand, while boosting exports and tourism and attracting foreign capital flows, including Foreign Direct Investment (FDI).



    (WAH)

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