Indonesia Interest Rate

The benchmark interest rate in Indonesia was last recorded at 7.50 percent. Interest Rate in Indonesia is reported by the Bank Indonesia. Interest Rate in Indonesia averaged 7.72 Percent from 2005 until 2014, 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. 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. 2014-04-25

Actual Previous Highest Lowest Forecast Dates Unit Frequency
7.50 7.50 12.75 5.75 7.50 | 2014/06 2005 - 2014 Percent Monthly

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Indonesia Interest Rate
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2014-01-09 09:20 AM Indonesia
Interest Rate Decision
7.5% 7.5% 7.5%
2014-02-13 08:00 AM Indonesia
Interest Rate Decision
7.5% 7.5% 7.5% 7.5%
2014-03-13 09:00 AM Indonesia
Interest Rate Decision
7.5% 7.5% 7.5% 7.5%
2014-04-08 08:10 AM Indonesia
Interest Rate Decision
7.5% 7.5% 7.5% 7.5%
2014-05-08 08:00 AM Indonesia
Interest Rate Decision
7.5% 7.5%
2014-06-12 08:00 AM Indonesia
Interest Rate Decision
7.5%
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Money Last Previous Highest Lowest Forecast Unit
Interest Rate 7.50 2014-04-08 7.50 12.75 5.75 7.50 2014-06-30 Percent [+]
Foreign Exchange Reserves 102591.87 2014-03-31 102740.92 124637.75 27404.30 105541.55 2014-06-30 USD Million [+]
Interbank Rate 5.76 2014-02-28 5.89 89.80 1.17 6.00 2014-06-30 Percent [+]
Loans to Private Sector 2934761.00 2014-02-28 2931498.00 2963624.00 286724.00 3155043.32 2014-06-30 IDR Billion [+]
Money Supply M0 367645.08 2014-02-28 380060.86 399589.00 2983.00 401196.67 2014-06-30 IDR Billion [+]
Money Supply M1 834526.00 2014-02-28 842669.00 903287.00 317.90 907291.10 2014-06-30 IDR Billion [+]
Money Supply M2 3639494.00 2014-02-28 3649270.00 3727696.00 5156.00 3785502.71 2014-06-30 IDR Billion [+]
[+]


Bank Indonesia Leaves Rates Unchanged

At its April 8th, 2014 meeting, Bank Indonesia decided to leave the benchmark interest rate unchanged at 7.5 percent, as inflation, current account and rupiah pressures eased.

The deposit facility and the lending facility rate were also left unchanged at 5.75 percent and 7.50 percent, respectively.

In March, the inflation rate slowed for the third straight month to 7.32 percent and the consumer confidence index rose to its highest level since November of 2012, due to higher expectations of an improving economy. 

In February, the country recorded a USD 785.3 million surplus. Exports of oil and gas rose modestly, while imports decreased sharply, helped by a stronger rupiah. The rupiah gained 7.1 percent in the first quarter of 2014.

Excerpt from the statement by the Bank Indoneisa:

This policy is consistent with ongoing efforts to steer inflation back towards its target corridor of 4.5±1% in 2014 and 4.0±1% in 2015, as well as reduce the current account deficit to a more sustainable level. Bank Indonesia considers recent developments in the economy of Indonesia as favorable and in line with previous projections, marked by lower inflation and a balance of trade that has returned to record a surplus. Looking ahead, Bank Indonesia will continue to remain vigilant of a variety of risks, globally and domestically, as well as implement anticipatory measures to ensure economic stability is preserved and stimulate the economy in a more balanced direction, thereby buoying current account performance. 

 Bank Indonesia expects the ongoing episode of domestic economic moderation to continue, leading to a more balanced and sound economic structure. As a whole, economic growth in Indonesia for 2014 remains in the range projected previously by Bank Indonesia at around 5.5-5.9%.

Looking forward, Bank Indonesia expects improvements in the external sector to continue, underpinned by a current account deficit in 2014 that can be brought down to below 3.0% of GDP and a deluge of foreign capital inflows. To this end, Bank Indonesia will continue to monitor a plethora of risks, global and domestic, which could undermine external sector resilience and its pertinent response, including the performance of external debt, in particular private eternal debt.

Bank Indonesia | Joana Taborda | joana.taborda@tradingeconomics.com
4/8/2014 11:50:58 AM

RECENT RELEASES

Bank Indonesia Leaves Monetary Policy on Hold
Bank Indonesia decided on March 13th, 2014 to hold the benchmark interest rate steady at 7.5 percent for the fourth straight meeting, as pressures over the inflation rate and the rupiah have eased. Published on 2014-03-13

Indonesia Holds Rates Steady in February
At its February 13th, 2014 meeting, Bank Indonesia left its benchmark interest rate unchanged at 7.5 percent, as widely expected, as the country’s current account deficit had narrowed sharply in the last quarter of 2013. The lending and deposit facility rates were also left unchanged at 7.50 percent and 5.75 percent, respectively. Published on 2014-02-13


Interest Rate | Notes
The interest rate shown on this page refers to the central bank benchmark interest rate. Usually, the central bank benchmark interest rate is the overnight rate at which central banks make loans to the commercial banks under their jurisdiction. Moving the benchmark interest rate, the central bank is able to make an impact on interest rates of commercial banks, inflation level of the country and national currency exchange rate. Reduction of interest rates should bring increase in business activity, a rise in inflation rate and weakening of national currency. In case of increase in interest rates the level of business activity is likely to drop, inflation declines and national currency strengthens.


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At its April 8th, 2014 meeting, Bank Indonesia decided to leave the benchmark interest rate unchanged at 7.5 percent, as inflation, current account and rupiah pressures eased.
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Bank Indonesia decided on March 13th, 2014 to hold the benchmark interest rate steady at 7.5 percent for the fourth straight meeting, as pressures over the inflation rate and the rupiah have eased.
Indonesia Holds Rates Steady in February  
At its February 13th, 2014 meeting, Bank Indonesia left its benchmark interest rate unchanged at 7.5 percent, as widely expected, as the country’s current account deficit had narrowed sharply in the last quarter of 2013. The lending and deposit facility rates were also left unchanged at 7.50 percent and 5.75 percent, respectively.
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