Indonesia Interest Rate  2005-2018 | Data | Chart | Calendar | Forecast

The central bank of Indonesia held its benchmark 7-day reverse repo rate at 5.25 percent on July 19th as widely expected. It follows three consecutive rate hikes to support the rupiah which already fell almost 6 percent in 2018 and is trading at its weakest level in near three years. However, the currency has been stable since the end of June when policymakers last hike borrowing costs by 50bps. The lending and the deposit facility rates were also left steady at 6 percent and 4.5 percent, respectively. Interest Rate in Indonesia averaged 7.13 percent from 2005 until 2018, reaching an all time high of 12.75 percent in December of 2005 and a record low of 4.25 percent in September of 2017.

Indonesia Interest Rate
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Indonesia Leaves Monetary Policy Unchanged


The central bank of Indonesia held its benchmark 7-day reverse repo rate at 5.25 percent on July 19th as widely expected. It follows three consecutive rate hikes to support the rupiah which already fell almost 6 percent in 2018 and is trading at its weakest level in near three years. However, the currency has been stable since the end of June when policymakers last hike borrowing costs by 50bps.

The lending and the deposit facility rates were also left steady at 6 percent and 4.5 percent, respectively.

Excerpts from the Bank Indonesia Press Release:

“The policy is consistent with efforts by Bank Indonesia to maintain domestic financial market attractiveness against a backdrop of pervasive uncertainty blighting the global financial markets in order to maintain stability in general and Rupiah exchange rate stability in particular. Bank Indonesia believes that the macro prudential policy easing measures are able to increase liquidity management flexibility as well as banking intermediation for economic growth. Bank Indonesia also strengthens coordination with the government and other related authorities to maintain stability and implementation of structural reform to reduce current account deficit, including foreign exchange from tourism and private sector infrastructure financing. Moving forward, Bank Indonesia will continue to monitor the global and domestic economic developments and outlook in order to strengthen policy mix response in maintaining domestic financial market attractiveness.

The Rupiah experienced depreciatory pressures against broad USD appreciation. The Rupiah strengthened at the beginning of July 2018 in response to Bank Indonesia’s pre-emptive, front-loading and ahead-of-the-curve monetary policy instituted at the Board of Governors’ meeting (RDG) held in June 2018 through a 50bps hike in the BI 7-Day (Reverse) Repo Rate. The favorable market response drew non-resident capital inflows to domestic financial markets, especially tradable government securities (SBN), thus prompting Rupiah appreciation. Pressures on the Rupiah re-emerged as uncertainty enveloped the global financial markets, which triggered broad USD appreciation. On 18th July 2018, the Rupiah stood at Rp14,405/USD, down 0.52% (ptp) on the level recorded at the end of June 2018. Consequently, the Rupiah has depreciated by 5.81% (ytd) on the level posted at the end of 2017, not as severe as reported in other developing economies, including the Philippines, India, South Africa, Brazil and Turkey. Moving forward, Bank Indonesia will remain vigilant of global financial market uncertainty risks, while maintaining the Rupiah exchange rate in line with the currency’s fundamental value, backed by financial market deepening efforts. The policies remain backed by double intervention strategies and monetary operation strategies to maintain adequate liquidity, especially in the Rupiah and interbank swap markets.”

Inflation (3.5±1 percent) and economic growth (5.1-5.5%) forecasts for 2018 were kept unchanged.


Bank Indonesia | Gabriela Costa | gabriela.costa@tradingeconomics.com
7/19/2018 9:59:25 AM



Calendar GMT Actual Previous Consensus TEForecast
2018-05-30 07:30 AM Interest Rate Decision 4.75% 4.5% 4.75% 4.75%
2018-06-29 07:20 AM Interest Rate Decision 5.25% 4.75% 5% 5%
2018-07-19 07:30 AM Interest Rate Decision 5.25% 5.25% 5.25% 5.25%
2018-08-16 10:00 AM Interest Rate Decision 5.25% 5.25%
2018-09-27 10:00 AM Interest Rate Decision 5.25%
2018-10-23 10:00 AM Interest Rate Decision 5.25%


Indonesia Money Last Previous Highest Lowest Unit
Interest Rate 5.25 5.25 12.75 4.25 percent [+]
Interbank Rate 7.18 7.19 57.79 4.19 percent [+]
Money Supply M0 580658.79 549590.88 586579.57 2983.00 IDR Billion [+]
Money Supply M1 1404660.70 1372584.30 1404660.70 317.90 IDR Billion [+]
Money Supply M2 5436600.00 5408588.30 5436600.00 5156.00 IDR Billion [+]
Foreign Exchange Reserves 119800.00 122900.00 131979.64 27404.30 USD Million [+]
Loans to Private Sector 4328500.00 4259405.00 4328500.00 286724.00 IDR Billion [+]
Deposit Interest Rate 4.50 4.50 56.00 3.00 percent [+]
Lending Rate 6.00 6.00 15.75 5.00 percent [+]
Loan Growth 10.26 8.94 90.50 -59.90 percent [+]
Cash Reserve Ratio 6.50 6.50 8.00 5.00 percent [+]


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. This page provides - Indonesia Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Indonesia Interest Rate - actual data, historical chart and calendar of releases - was last updated on July of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
5.25 5.25 12.75 4.25 2005 - 2018 percent Daily




interest rate by Country
Country Last
Turkey 17.75 Jun/18
Mexico 7.75 Jun/18
Russia 7.25 Jun/18
Brazil 6.50 Jun/18
India 6.25 Jun/18
Indonesia 5.25 Jul/18
China 4.35 Jun/18
United States 2.00 Jun/18
Australia 1.50 Jul/18
Canada 1.50 Jul/18
South Korea 1.50 Jul/18
United Kingdom 0.50 Jul/18
Euro Area 0.00 Jun/18
France 0.00 Jun/18
Germany 0.00 Jun/18
Italy 0.00 Jun/18
Netherlands 0.00 Jun/18
Spain 0.00 Jun/18
Japan -0.10 Jun/18
Switzerland -0.75 Jun/18


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