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| BI Kembali Tahan Suku Bunga Acuan di Level 3,50 Persen |
Bank Indonesia ( BI ) has decided to maintain the BI 7-day Reverse Repo Rate at 3.50 percent. The BI benchmark interest rate has been at the level of 3.50 percent since February 2021.
Thus, the deposit facility remains at 2.75 percent and the lending facility remains at 4.25 percent.
BI Governor Perry Warjiyo said the decision to maintain the benchmark interest rate was based on a comprehensive assessment of global and domestic economic conditions, both in the macroeconomic, financial, monetary and payment systems sectors.
" The BI RDG on 20 and 21 July 2022 decided to maintain the BI 7-Day Reverse Repo Rate at 3.50 percent," Perry said during a virtual press conference, Thursday (21/7/2022).
Perry said this decision is consistent with the core inflation forecast which is still under control amidst the risk of the impact of the global economic slowdown on domestic economic growth.
Nevertheless, BI continues to be aware of the risk of rising inflation expectations and core inflation going forward as well as strengthening the response to the necessary monetary policy mix, either through stabilizing the rupiah exchange rate, strengthening monetary operations and interest rates.
Previously, Economist from the Center of Economic and Law Studies (CELIOS) Bhima Yudhistira estimated that BI would raise the benchmark interest rate by 25 basis points (bps) or 0.25 percent.
He even estimates that BI will still raise interest rates up to 100 bps in the four RDGs in 2022.
"BI is expected to start raising the benchmark interest rate 25 bps with the consideration that inflation is starting to become an alarm, especially volatile food inflation," he told the newbie news, Wednesday (20/7/2022).
He explained that if BI did not raise its interest rate, it was feared that it could weaken the rupiah exchange rate in the future.
In addition, capital flows will flow out so that national foreign exchange reserves are eroded. It is also feared that interest rates that do not rise will increase inflation and hinder bank lending.
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