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Today's Headlines Bank Indonesia

  • Low Indonesian Inflation Rate Expected to Continue into January 2014

    The Governor of Indonesia's central bank (Bank Indonesia), Agus Martowardojo, expects that the pace of inflation in Indonesia in January 2014 is most likely to become one of the lowest January inflation rates in the last five years although it remains important that food supplies are maintained at safe levels. The higher price of LPG in Southeast Asia's largest economy is expected to contribute only slightly to January's inflation rate. Martowardojo also stated that Indonesia's macroeconomy is stable at the start of a new year.

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  • Credit Growth in Indonesia Expected to Have Slowed to 15-17% in 2013

    The central bank of Indonesia (Bank Indonesia) expects that credit growth in Southeast Asia’s largest economy will not exceed 20 percent (year on year) by the end of December 2013. Deputy Governor of Bank Indonesia, Halim Alamsyah, stated that credit growth is likely to slow to between 15 and 17 percent (yoy) in 2013 (based on a fixed rupiah exchange rate). Credit growth especially slowed in Indonesia’s consumption and construction sectors; a trend which is expected to continue in 2014.

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  • Indonesia's Rupiah Gains on Trade Balance and Forex Reserves

    The performance of the Indonesia rupiah exchange rate on Friday morning (10/01) was rather stagnant against the US dollar (the latter's movement was mixed against currencies in the Asia-Pacific) although the rupiah was up 0.12 percent to IDR 12,178 per US dollar at 13:42 local Jakarta time based on the Bloomberg Dollar Index. Positive sentiments are caused by Indonesia's narrowing current account deficit (possibly less than 3 percent of GDP in Q4-2013) and rising foreign exchange reserves at end-December 2013.

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  • Indonesia's Central Bank Maintains Interest Rate (BI Rate) at 7.50%

    Indonesia's central bank (Bank Indonesia) kept its benchmark interest rate (known as the BI rate) at 7.50 percent in today's Board of Governor's meeting (09/01). The institution decided not to change its interest rate because it estimates that the inflation target for 2014 is not in jeopardy (4.5 percent) while Indonesia's economic growth prospects for 2014 and 2015 remain unchanged. Also the overnight lending facility as well as deposit facility rate (Fasbi) were kept at 7.50 percent and 5.75 percent respectively.

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  • Indonesia’s Foreign Exchange Reserves Rise to USD $99.4 Billion at End-2013

    Today (08/01), Indonesia's central bank (Bank Indonesia) announced that Indonesia’s official reserve assets stood at USD $99.4 billion at the end of December 2013, implying an USD $2.4 billion growth from the foreign exchange reserves at the end of the previous month (USD $97.0 billion). According to Bank Indonesia, these assets cover 5.6 months of imports or 5.4 months of imports and servicing of government external debt (well above the international standards of reserve adequacy).

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  • Indonesia Investments' Newsletter of 5 January 2014 Released

    On Sunday 5 January 2014, Indonesia Investments released its latest newsletter. This free newsletter, which is sent to our subscribers once per week, contains the most important news stories from Indonesia that have been reported on during the last seven days on our website. Most of the topics involve economic matters such as an update on Indonesia's inflation and current account deficit, initial public offerings (IPOs) in 2014, car sales, the Financial Services Authority (OJK) and Indonesia's aviation industry.

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  • Indonesia's December 2013 Inflation at 0.55% and Full-Year 2013 at 8.38%

    On Thursday (02/01), Statistics Indonesia (BPS) released the December 2013 inflation figure of Indonesia as well as the calender inflation rate for full-year 2013. Higher food prices and house prices were the main contributors to the 0.55 percent inflation rate in December 2013. Seasonal celebrations, like Christmas and New Year, always translate into higher inflationary pressures in Southeast Asia's largest economy. Higher fuel prices were the main contributor to the 8.38 percent inflation rate in full-year 2013.

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  • Bank Indonesia Improves Provisions for Hedge Swap Transactions

    In order to support Indonesia's sharply depreciated rupiah exchange rate, the central bank of Indonesia (Bank Indonesia or BI) improved provisions for Hedge Swap Transactions through Bank Indonesia Regulation No.15/17/PBI/2013 (which takes effect as of 3 February 2014). Through this arrangement, Indonesian banks can sell their US dollars to BI at the current spot rate and promise to buy the amount at a later date on an agreed rate. This protects banks against fluctuations in the rupiah exchange rate.

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  • Indonesia’s Central Bank (BI) Expects Low Inflation in December 2013

    The central bank of Indonesia (Bank Indonesia) expects that the country’s inflation figure in December 2013 (month-to-month) will be below 0.5 percent. Up to the third week of December, inflation increased 0.36 percent according to data from Bank Indonesia. Considering the month of December always brings along inflationary pressures due to seasonal celebrations (Christmas and New Year), Bank Indonesia's inflation estimate of below 0.5 percent can be considered rather low.

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  • DBS Bank Expects Indonesian Inflation to Remain Modest in December 2013

    The DBS Bank expects that Indonesia's inflation rate will reach 8.2 percent (year-on-year) by the end of 2013, supported by a low monthly inflation rate in the last month of the year. The DBS Bank believes that the pace of inflation in December 2013 will be slightly higher than the country's November inflation (0.12 percent). In the period January to November 2013, inflation in Southeast Asia's largest economy has accumulated to 7.79 percent (yoy). The bank also stated that it expects inflation to reach 6.7 percent in full-year 2014.

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