Bank Indonesia Maintains Interest Rate at 3.5%
Translator
Editor
25 May 2021 22:33 WIB
TEMPO.CO, Jakarta - Bank Indonesia's (BI) Board of Governors Meeting on May 24-25 has resulted in a decision to keep the BI 7-Day Reverse Repo Rate (7DRR) at 3.5 percent. Meanwhile, the Deposit Facility is also kept at 2.75 percent and the Lending Facility is still 4.25 percent.
"This decision is consistent with the projected low inflation and efforts to maintain the rupiah's stability and accelerate economic recovery efforts," BI Governor Perry Warjiyo said in a press conference, Tuesday, May 25.
The central bank, he added, continues to optimize accommodative monetary and macroprudential policies, whilst accelerating the digitization of Indonesia's payment system for a faster economic recovery.
The meeting results also took into account the development of global economic recovery, particularly from the United States and China.
Furthermore, Perry estimates that Indonesia's economy will have a growth rate of 4.1 to 5.1 percent in 2021.
Read: Covid-19 Vaccine and Stimulus are Economic Game Changer, Bank Indonesia Says
Muhammad Hendartyo
