The Bank of Indonesia kept its key 7-day reverse repurchase rate unchanged at a record low of 3.5% on July 22nd, 2021, as widely expected. The overnight deposit facility and lending facility rates were also left unchanged at 2.75% and 4.25%, respectively. The central bank aims to continue to support the economic recovery from the pandemic shortfall, while maintaining stability at the exchange rate and financial system levels, amid a low inflation outlook. The economic recovery from the pandemic continued during the Q2, mainly driven by exports, fiscal spending, and non-construction investment. However, the recovery is seen slowing in Q3 as COVID-19 cases and deaths peaked to record highs during July and restrictions continued to weigh down on business activity. The central bank downwardly revised 2021 growth forecasts to between 3.5% and 4.3%, from a prior range of 4.1% to 5.1%. At the same time, inflation is seen within the 2% to 4% target range. source: Bank Indonesia
Interest Rate in Indonesia averaged 6.68 percent from 2005 until 2021, reaching an all time high of 12.75 percent in December of 2005 and a record low of 3.50 percent in February of 2021. This page provides - Indonesia Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Indonesia Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2021.
Interest Rate in Indonesia is expected to be 3.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Indonesia to stand at 3.50 in 12 months time. In the long-term, the Indonesia Interest Rate is projected to trend around 4.00 percent in 2022 and 4.25 percent in 2023, according to our econometric models.