The Bank of Indonesia held its interest rates unchanged for the fourth consecutive time during its February 2024 meeting, aligning with market expectations, saying that current levels remained adequate to manage inflation, while supporting economic growth and strengthening the rupiah's stability. At the same time, the overnight deposit facility and the lending facility were kept at 5.25% and 6.75%, respectively. Moreover, the central bank revised its growth forecast for 2024 to 4.7% to 5.5%, from 4.7% to 5% previously, citing improving exports due to increasing global economic growth as well as sustained domestic demand supported by positive economic sentiment. Policymakers also projected the current account deficit to be between 0.1% to 0.9% of GDP. source: Bank Indonesia

The benchmark interest rate in Indonesia was last recorded at 6 percent. Interest Rate in Indonesia averaged 6.41 percent from 2005 until 2024, 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 February of 2024.

The benchmark interest rate in Indonesia was last recorded at 6 percent. Interest Rate in Indonesia is expected to be 6.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Indonesia Interest Rate is projected to trend around 4.00 percent in 2025, according to our econometric models.

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Indonesia Interest Rate


Calendar GMT Reference Actual Previous Consensus TEForecast
2023-12-21 07:30 AM
Interest Rate Decision
6% 6% 6% 6.0%
2024-01-17 07:30 AM
Interest Rate Decision
6% 6% 6% 6.0%
2024-02-21 07:30 AM
Interest Rate Decision
6% 6% 6% 6.0%
2024-03-20 07:30 AM
Interest Rate Decision
6%
2024-04-24 07:30 AM
Interest Rate Decision
2024-05-22 07:30 AM
Interest Rate Decision


Related Last Previous Unit Reference
Interest Rate 6.00 6.00 percent Feb 2024
Interbank Rate 6.93 6.93 percent Feb 2024
Money Supply M1 4935516.00 4725742.90 IDR Billion Dec 2023
Money Supply M0 975919.00 893156.00 IDR Billion Dec 2023
Money Supply M2 8721900.00 8824748.00 IDR Billion Jan 2024
Foreign Exchange Reserves 145051.57 146383.75 USD Million Jan 2024
Loans to Private Sector 6279265.00 6189425.00 IDR Billion Dec 2023
Deposit Interest Rate 5.25 5.25 percent Feb 2024
Cash Reserve Ratio 9.00 9.00 percent Feb 2024
Lending Rate 6.75 6.75 percent Feb 2024
Loan Growth 11.80 10.40 percent Jan 2024

Indonesia Interest Rate
In Indonesia the interest rate decisions are taken by The Central Bank of Republic of Indonesia. In April of 2016, policymakers announced the replacement of the official discount interest rate with new 7-day reverse repurchase rate in August 2016. This is the rate at which central banks lend or discount eligible paper for deposit money banks, typically shown on an end-of-period basis.
Actual Previous Highest Lowest Dates Unit Frequency
6.00 6.00 12.75 3.50 2005 - 2024 percent Daily

News Stream
Indonesia Holds Rates Unchanged for 4th Time
The Bank of Indonesia held its interest rates unchanged for the fourth consecutive time during its February 2024 meeting, aligning with market expectations, saying that current levels remained adequate to manage inflation, while supporting economic growth and strengthening the rupiah's stability. At the same time, the overnight deposit facility and the lending facility were kept at 5.25% and 6.75%, respectively. Moreover, the central bank revised its growth forecast for 2024 to 4.7% to 5.5%, from 4.7% to 5% previously, citing improving exports due to increasing global economic growth as well as sustained domestic demand supported by positive economic sentiment. Policymakers also projected the current account deficit to be between 0.1% to 0.9% of GDP.
2024-02-21
Indonesia Leaves Rates Steady as Expected
The Bank of Indonesia held its interest rate unchanged at 6% for the third consecutive meeting in January 2024 to ensure inflation stays within the central bank's 2.5±1% target range in 2024 while supporting economic growth and strengthening the stabilization of the rupiah. The central bank also held both the overnight deposit facility and the lending facility at 5.25% and 6.75%, respectively. Additionally, the central bank maintained its growth forecast for 2024 between 4.7% to 5%, supported by rising spending on elections and as the current government rushes to finish infrastructure projects. Policymakers also left their GDP growth forecasts for 2023 at 4.5% to 5.3%, boosted by household consumption, fixed capital investment, and government spending. Meanwhile, the current account forecast for 2023 was kept at around -0.4%-0.4% of GDP.
2024-01-17
Bank Indonesia Leaves Rate Steady
The Bank of Indonesia held its interest rate unchanged at 6% for the second consecutive time during its December 2023 meeting, in line with market expectations. The central bank said the decision is consistent with strengthening the stabilization of rupiah and a pre-emptive move to ensure that inflation remains under control within the target range. At the same time, the overnight deposit facility and the lending facility were also kept at 5.25% and 6.75%, respectively. Meanwhile, regulators expect the inflation to stay within the target of 3±1% this year and 2.5±1% in 2024. Policymakers also held its GDP growth forecasts for 2023 at 4.5% to 5.3%, while it was predicted to expand between 4.7% to 5.5% in 2024, supported by spending for elections and strategic government projects. The current account to GDP forecast for this year was kept at -0.4% to 0.4%.
2023-12-21