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Today's Headlines Bank Indonesia

  • Bank Indonesia Kept Key Interest Rate at 4.25% in October 2017

    Bank Indonesia Kept Key Interest Rate at 4.25% in October 2017

    Bank Indonesia held its key rate at 4.25 percent at the October 2017 policy meeting. This decision was in line with expectations. In fact, previously, Bank Indonesia officials had already indicated that they would pause their eagerness to ease monetary policy. Since January 2016, the central bank of Indonesia had already cut the benchmark interest rate eight times from 7.25 percent to 4.25 percent in an effort to boost economic growth.

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  • Bank Indonesia Governor Agus Martowardojo Wins Award

    Bank Indonesia Governor Agus Martowardojo Wins Award

    The governor of Indonesia's central bank (Bank Indonesia), Agus Martowardojo, won the Governor of the Year award for the East Asia-Pacific region. The winner of the award was announced by Global Markets, a newspaper that is part of Euromoney Institutional Investor.

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  • September Foreign Exchange Assets Indonesia Touch New Record High

    September Foreign Exchange Assets Indonesia Touch New Record High

    By the end of September 2017, Indonesia's foreign exchange reserves stood at USD $129.4 billion, slightly up from USD $128.8 billion in the preceding month, hence hitting a new all-time record. Indonesia's central bank (Bank Indonesia) said this increase was primarily attributed to foreign exchange receipts from tax revenues, government oil & gas export proceeds, the withdrawal of government foreign loans as well as the auction of Bank Indonesia foreign exchange bills.

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  • Bank Indonesia Expects Mild Acceleration of Economic Growth

    Bank Indonesia Expects Mild Acceleration of Economic Growth

    Bank Indonesia, the central bank of Indonesia, expects the nation's gross domestic product (GDP) to accelerate modestly in the remainder of the year after having recorded slightly disappointing 5.01 percent year-on-year (y/y) growth in both the first and second quarter of 2017.

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  • Bank Indonesia's Retail Sales Survey: Decline in July 2017

    Bank Indonesia's Retail Sales Survey: Decline in July 2017

    Indonesia's retail sales declined in July 2017 in line with the return to normal consumption patterns after the Ramadan and Idul Fitri celebrations ended. This is reflected in Bank Indonesia's retail sales index that showed a 3.3 percent decline year-on-year (y/y), after a 6.3 percent (y/y) increase in the preceding month. The decline in Indonesia's retail sales occurred in both food and non-food groups.

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  • Per 31 October No More Cash Payments at Indonesia's Toll Roads

    Per 31 October No More Cash Payments at Indonesia's Toll Roads

    Per 31 October 2017 payments on Indonesia's toll roads will be done entirely non-cash, using electronic money. This policy is part of authorities' ambition to create a cashless society and is expected to speed up the payment process at the toll roads, hence easing severe traffic congestion.

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  • Foreign Exchange Reserves of Indonesia Rose in August 2017

    Foreign Exchange Reserves of Indonesia Rose in August 2017

    Indonesia's central bank (Bank Indonesia) said the nation's foreign exchange reserves rose to USD $128.8 billion at the end of August 2017, higher than the USD $127.8 billion one month earlier. This growth was primarily attributed to foreign exchange receipts from tax revenues and government oil & gas export proceeds, as well as auctions of Bank Indonesia's foreign exchange bills.

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  • Bank Indonesia: Rupiah Not Affected by North Korea Turmoil

    Bank Indonesia: Rupiah Not Affected by North Korea Turmoil

    The central bank of Indonesia (Bank Indonesia) is convinced that geopolitical troubles on the Korean peninsula will not impact negatively on the Indonesian rupiah exchange rate. Bank Indonesia Agus Martowardojo said he sees little impact (yet) but emphasized that the lender of last resort will continue to carefully monitor persistent tensions that have heightened after North Korea's latest nuclear test - its biggest-ever - on Sunday (03/09).

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  • Bank Indonesia Cuts Key rate to 4.50% at August Policy Meeting

    Bank Indonesia Cuts Key rate to 4.50% at August Policy Meeting

    It was not a total surprise. In fact, signs were on the wall. On Tuesday (22/08) the central bank of Indonesia (Bank Indonesia) decided to cut its benchmark BI 7-day (Reverse) Repo Rate by 25 basis points to 4.50 percent at the August 2017 policy meeting. It was the first time since October 2016 that Bank Indonesia altered its key rate. Meanwhile, the deposit facility and lending facility rates were also cut by 25 basis points, to 3.75 percent and 5.25 percent, respectively.

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  • Bank Indonesia's August Policy Meeting Closely Watched Today

    Bank Indonesia's August Policy Meeting Closely Watched Today

    Usually Bank Indonesia ends its two-day Board of Governor's meeting on a Thursday. This August, however, the monthly meeting is planned to end today (Tuesday 22 August 2017). This meeting - expected to be completed in the late afternoon or early evening - is closely watched because some believe Indonesia's central bank is prepared to cut its benchmark interest rate.

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Latest Columns Bank Indonesia

  • Indonesia's Current Account Balance Improved in Q3-2013

    The economic stabilisation policies launched by Indonesia's central bank (Bank Indonesia) and the Indonesian government in recent months have brought a steady improvement in the country's current account balance. The current account deficit moderated from the previous quarter’s record USD $9.9 billion (equivalent to 4.4 percent of the country's GDP) to USD $8.4 billion (3.8 percent of GDP) in the third quarter of 2013. A shrinking current account deficit is highly awaited by investors. The text below is the official press release of Bank Indonesia.

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  • Update Indonesian Economy: Economic Growth and Financial Stability

    Despite rising concerns about the slowing pace of the Indonesian economy, the deputy minister of Finance Bambang Brodjonegoro reminded investors that Indonesia's economic growth in the third quarter of 2013 still constitutes one of the highest growth rates around the globe. Economic expansion in Q3-2013 slid to 5.6% in Southeast Asia's largest economy. With the exception of China (7.8% GDP growth in Q3-2013), Indonesia's growth continues to outpace growth in other emerging markets, such as Brazil (3.3%) and Turkey (4%).

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  • Pessimism Colours Indonesia's Market: IHSG Falls 1.80% on Wednesday

    Amid negative market sentiments, brought on by domestic factors, Indonesia's benchmark stock index (IHSG) and rupiah exchange rate plunged on Wednesday (13/11). For many investors, in particular foreign investors, Indonesia's central bank's decision to raise the benchmark interest rate (BI rate) by 25 bps to 7.50 percent yesterday (12/11) was reason to engage in stock selling. It was worsened by the continued decline of the rupiah as well as weak Asian stock indices and weak stock openings in Europe.

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  • Higher BI Rate Causes Indonesia's Rupiah and Stock Index to Fall

    Higher BI Interest Rate Causes Indonesia's Rupiah and Stock Index to Fall

    Indonesia's Jakarta Composite Index (IHSG) started Tuesday's trading day (12/11) slightly in the red. However, after the central bank of Indonesia (Bank Indonesia) announced to have raised its benchmark interest rate (BI rate) by 25 bps to 7.50 percent, the IHSG quickly plunged. The interest rate hike is considered as a sign that Bank Indonesia is still concerned about the nation's macroeconomy, particularly Indonesia high inflation (8.32 percent yoy in October 2013). The index fell 1.38 percent to 4,380.64 points.

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  • Bank Indonesia Raises Benchmark Interest Rate (BI Rate) to 7.50%

    Bank Indonesia decided to raise the BI rate by 25 bps to the level of 7.50 percent, with the Lending Facility rate and Deposit Facility rate raised to 7.50 percent and 5.75 percent respectively. This policy was taken in light of the persistently large current account deficit amid widespread global uncertainty. Therefore, the decision was taken in order to ensure that the current account deficit is reduced to a more sound level and inflation in 2014 returns to around 4.5±1 percent, thereby supporting sustainable economic growth.

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  • Ahead of the Bank Indonesia Meeting Jakarta Composite Index Falls 0.78%

    The Jakarta Composite index (Indonesia's benchmark stock index or IHSG) fell on Monday (11/11) amid mixed Asian markets. Not even positive finishes on Wall Street last Friday (08/11) were able to support the IHSG. Most investors seem to be waiting for results of Bank Indonesia's Board of Governor's Meeting which is scheduled for Tuesday (12/11). This meeting will provide answers about the central bank's view of the domestic economy and whether it thinks another adjustement of the BI rate is necessary.

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  • Analysis of Indonesia's October Inflation and September Trade Deficit

    Analysis of Indonesia's October Inflation and September Trade Deficit

    Indonesia's October inflation rate was well-received by investors. On Friday (01/11), Statistics Indonesia (BPS) announced that the country's inflation in October 2013 grew 0.09 percent. Easing inflation was mainly due to falling prices of raw foods and clothes. Year-on-year (yoy), however, Indonesia's inflation is still high at 8.32 percent, although showing a moderating trend from 8.40 percent (yoy) in September 2013 and 8.79 percent (yoy) in August 2013. Inflation had skyrocketed after subsidized fuel prices were raised by an average 33 percent in June.

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  • Indonesia’s Slowing Economic Growth: the Case of Private Consumption

    Indonesia’s Slowing Economic Growth: the Case of Private Consumption

    Forecasts for Indonesia’s gross domestic product (GDP) growth in 2013 and beyond have been revised down by all institutions, including the Indonesian government and central bank as well as international organizations such as the World Bank and the International Monetary Fund (IMF). Initially, the country’s economic growth was expected to reach around 6.5 percent in 2013. However, most institutions have downgraded forecasts for the country’s economic growth to below the 6.0 percent mark.

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  • Agreement Bank Indonesia and the Indonesian Financial Services Authority

    Today (18/10), the Governor of Bank Indonesia and the Chairman of the Indonesian Financial Services Authority (OJK) signed an agreement concerning “cooperation and coordination to support task implementation at Bank Indonesia and OJK”. The agreement forms a basis for expediting and optimising coordination between both organisations in terms of their function, task and authority in light of the upcoming transfer of the banking regulation and supervision function from Bank Indonesia to OJK on 31 December 2013.

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  • Bilateral Currency Swap Arrangement (BCSA) Indonesia and Korea

    On 12 October 2013 Finance Minister and Central Bank Governors from Korea and Indonesia agreed to establish a bilateral KRW/IDR swap arrangement in the near future. The size of the swap arrangement is up to KRW 10.7 trillion/IDR 115 trillion (equivalent to USD $10 billion). The effective period of the facility will be three years, and could be extended by agreement by both sides. This Bilateral Currency Swap Arrangement (BCSA) aims to promote bilateral trade and further strengthen financial cooperation, an objective of mutual interest to both countries.

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