Indonesia Interest Rate 2005-2015 | Data | Chart | Calendar | Forecast

The Bank Indonesia left its benchmark interest rate on hold at 7.50 percent on August 18th 2015 as widely expected. The lending facility and the deposit facility rate were also left unchanged at 8.0 percent and 5.5 percent respectively. Interest Rate in Indonesia averaged 7.70 percent from 2005 until 2015, reaching an all time high of 12.75 percent in December of 2005 and a record low of 5.75 percent in February of 2012. Interest Rate in Indonesia is reported by the Bank Indonesia.

Indonesia Interest Rate
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Actual Previous Highest Lowest Dates Unit Frequency
7.50 7.50 12.75 5.75 2005 - 2015 percent Daily
In Indonesia the interest rate decisions are taken by The Central Bank of Republic of Indonesia. The official interest rate is the Discount rate. 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. This page provides - Indonesia Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Content for - Indonesia Interest Rate - was last refreshed on Wednesday, September 2, 2015.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-06-18 10:15 AM 7.5% 7.5% 7.5% 7.5%
2015-07-14 09:15 AM 7.5% 7.5% 7.5% 7.5%
2015-08-18 09:10 AM 7.5% 7.5% 7.5% 7.5%
2015-09-17 09:00 AM 7.5% 7.5%
2015-10-15 09:00 AM 7.5%
2015-11-17 09:00 AM 7.5%


Indonesia Holds Rates Steady


The Bank Indonesia left its benchmark interest rate on hold at 7.50 percent on August 18th 2015 as widely expected, aiming to protect the rupiah. The lending facility and the deposit facility rate were also left unchanged at 8.0 percent and 5.5 percent respectively.

Policymakers focus on rupiah stability, as they consider the currency is undervalued. Yet, the rupiah lost more than 2.5 percent against the USD to levels not seen since the Asian financial crisis of the late 1990s after China devalued the yuan last week.  

Excerpt from the statement by the Bank Indonesia:

The decision is consonant with efforts to control inflation within the target corridor of 4±1% in 2015 and 2016. In the short term, Bank Indonesia is focused on efforts to stabilize the Rupiah amid uncertainty in the global economy, by optimizing monetary operations in the Rupiah and foreign exchange market. Bank Indonesia constantly strengthens its monetary and macroprudential policy mix in order to ensure macroeconomic stability, particularly exchange rate and financial system stability to bolster economic sustainability. In addition, Bank Indonesia nurtures sound policy coordination with the Government to expedite pro-growth fiscal stimuli and continues various key structural policies to improve the economic outlook of Indonesia.

The rupiah fell by an average of 2.47% (qtq) to a level of Rp13,131 per US dollar in Q2/2015. Pressures on the currency escalated due to investor anticipation of the proposed FFR hike in the United States along with quantitative easing implemented by the ECB and the ongoing fiscal negotiations in Greece. Domestically, demand surged for foreign currencies in order to service debt and disburse seasonal dividend payments during the second quarter of 2015. Pressures were offset, however, by positive sentiment stemming from S&P’s affirmation to raise Indonesia’s outlook rating from stable to positive together with a growing trade surplus. The latest developments have shown that, in line with the market reaction to yuan devaluation in China, nearly all global currencies, including the rupiah, experienced depreciatory pressures (overshoot). Consequently, the rupiah overshot, which left the currency undervalued. Addressing such conditions, Bank Indonesia has and will continue to intervene on the market in order to stabilise the rupiah in accordance with its fundamental value, thereby supporting macroeconomic and financial system stability.

Bank Indonesia | Joana Taborda | joana.taborda@tradingeconomics.com
8/18/2015 10:31:08 AM


Recent Releases

Indonesia Leaves Monetary Policy Unchanged
The Bank Indonesia left its benchmark interest rate on hold at 7.50 percent on July 14th 2015 as widely expected. The lending facility and the deposit facility rate were also left unchanged at 8.0 percent and 5.5 percent respectively.
Published on 2015-07-14

Indonesia Leaves Monetary Policy Unchanged
The Bank Indonesia left its benchmark interest rate on hold at 7.5 percent at its June 18th meeting as widely expected.
Published on 2015-06-18

Indonesia Leaves Rates on Hold
The Bank Indonesia left its benchmark interest rate on hold at 7.5 percent at its May 19th meeting but said it will loosen reserve requirements to banks, aiming to boost lending.
Published on 2015-05-19

Indonesia Leaves Monetary Policy Unchanged
The Bank Indonesia left its benchmark interest rate on hold at 7.5 percent at its April 2015 meeting, saying current policy stance is consistent with bringing inflation to target and controlling current account gap.
Published on 2015-04-14


Indonesia Money Last Previous Highest Lowest Unit
Interest Rate 7.50 7.50 12.75 5.75 percent [+]
Interbank Rate 5.63 5.63 89.80 1.17 percent [+]
Money Supply M0 409875.60 406499.02 452862.49 2983.00 IDR Billion [+]
Money Supply M1 1039680.50 980915.30 1039680.50 317.90 IDR Billion [+]
Money Supply M2 4359545.70 4288369.30 4359545.70 5156.00 IDR Billion [+]
Foreign Exchange Reserves 107552.84 108029.61 124637.75 27404.30 USD Million [+]
Loans to Private Sector 3461551.00 3404079.00 3461551.00 286724.00 IDR Billion [+]
Lending Rate 8.00 8.00 15.75 6.75 percent [+]
Loan Growth 10.40 10.40 90.50 -59.90 percent [+]


Interest Rate Reference Previous Highest Lowest Unit
Australia 2.00 Sep/15 2.00 17.50 2.00 percent [+]
Brazil 14.25 Aug/15 13.75 45.00 7.25 percent [+]
Canada 0.50 Aug/15 0.75 16.00 0.25 percent [+]
China 4.60 Aug/15 4.85 10.98 4.60 percent [+]
Euro Area 0.05 Aug/15 0.05 4.75 0.05 percent [+]
India 7.25 Aug/15 7.25 14.50 4.25 percent [+]
Indonesia 7.50 Aug/15 7.50 12.75 5.75 percent [+]
Japan 0.00 Aug/15 0.00 9.00 0.00 percent [+]
Mexico 3.00 Aug/15 3.00 9.25 3.00 percent [+]
Russia 11.00 Aug/15 11.00 17.00 5.00 percent [+]
South Korea 1.50 Aug/15 1.50 5.25 1.50 percent [+]
Switzerland -0.75 Aug/15 -0.75 3.50 -0.75 percent [+]
Turkey 7.50 Aug/15 7.50 500.00 4.50 percent [+]
United Kingdom 0.50 Aug/15 0.50 17.00 0.50 percent [+]
United States 0.25 Aug/15 0.25 20.00 0.25 percent [+]