The Bank Indonesia (BI) raised its key interest rates by 25bps to 5.75% during the January meeting of 2023, a sixth consecutive hike, and the first rate hike in this year, aiming to ensure headline inflation remains within target 2%-4% in the second half of this year.The latest move brought the benchmark 7-day reverse repurchase rate to the highest level in more than three years, in line with market forecasts. The decision, which takes the cumulative increases to 225 bps since August last year, signalling that the tightening cycle was ending. Annual inflation hit a 7-year high of 5.95% in September last year amid rising global food and energy prices, but the pace has since slowed to 5.51% in December. The central bank also raised both the deposit facility and lending facility by 25 bps to 5% and 6.5%, respectively. The BI reaffirmed its 2023 economic growth outlook at the mid-point of 4.5%-5.3%, according to Governor Perry Warjiyo. source: Bank Indonesia
Interest Rate in Indonesia averaged 6.45 percent from 2005 until 2023, 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 2023.
Interest Rate in Indonesia is expected to be 6.25 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations.