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.

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Indonesia Interest Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-11-17 07:30 AM 5.25% 4.75% 5%
2022-12-22 07:30 AM 5.5% 5.25% 5.5% 5.5%
2023-01-19 07:30 AM 5.75% 5.5% 5.75% 5.75%
2023-02-16 07:30 AM 5.75% 6%
2023-03-16 07:30 AM
2023-04-19 07:30 AM


Related Last Previous Unit Reference
Interest Rate 5.75 5.50 percent Jan 2023
Interbank Rate 6.78 6.78 percent Feb 2023
Money Supply M1 4834600.00 4631900.00 IDR Billion Dec 2022
Money Supply M0 840492.40 808648.98 IDR Billion Nov 2022
Money Supply M2 8255000.00 8296100.00 IDR Billion Dec 2022
Foreign Exchange Reserves 137233.00 133994.44 USD Million Dec 2022
Loans to Private Sector 5606249.00 5541255.00 IDR Billion Nov 2022
Deposit Interest Rate 5.00 4.75 percent Jan 2023
Lending Rate 6.50 6.25 percent Jan 2023
Loan Growth 11.35 11.16 percent Dec 2022
Cash Reserve Ratio 9.00 7.50 percent Sep 2022

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
5.75 5.50 12.75 3.50 2005 - 2023 percent Daily

News Stream
Indonesia Hikes Rates by 25bps, as Widely Expected
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.
2023-01-19
Bank Indonesia Delivers 25bps Hike
The Bank Indonesia raised its key interest rates by 25bps during the last meeting of 2022, a fifth consecutive hike, aiming to bring inflation down. The benchmark 7-day reverse repurchase rate now stands at 5.5%, the deposit facility at 4.75% and the lending facility at 6.25%, their highest level since 2009 and in line with market forecasts. So far in 2022, the central bank has lifted rates by 200bps, the most aggressive tightening since 2005. However, the December move marks a smaller increase, after three consecutive 50bps hikes. "The decision to increase interest rates in a more measured manner is a follow-up step for front-loaded, pre-emptive and forward-looking measures to ensure the continued decline in inflation and inflation expectations so that core inflation is maintained within the range of 2%-4%", Governor Perry Warjiyo said. Inflation rate fell to a three-month low of 5.42% in November and is expected to hold around 5.4% in December and come down to 3% at the end of 2023.
2022-12-22
Indonesia Hikes Interest Rate to Highest Level Since 2020
Indonesia's central bank raised its policy rate by 50 bps to 4.75 percent during its October meeting, the third hike this year and bringing borrowing costs to the highest since February 2020 as it seeks to tame runaway inflation and strengthen the rupiah exchange rate. Indonesia's annual inflation rate accelerated to 5.95% in September 2022, marking the fastest rise in consumer prices since October 2015 and breaching the central bank's target range of 2 to 4% for the fourth straight month. Meantime, policymakers noted that the economy was in a good position, supported by increased private consumption and continued strength in exports. The overnight deposit and lending facility rates were also raised by the same amount, to 4.00% and 5.50%, respectively.
2022-10-20