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

Bank Indonesia raised its 7-day reverse repurchase rate by 25 bps to 5.50 percent on August 15th, the fourth hike in less than three months, in an attempt to support the country's falling currency. The decision came after the rupiah weakened to its lowest since October 2015 on the back of Turkey's currency crisis. Interest Rate in Indonesia averaged 7.12 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 Hikes Key Interest Rate to 5.5%


Bank Indonesia raised its 7-day reverse repurchase rate by 25 bps to 5.50 percent on August 15th, the fourth hike in less than three months, in an attempt to support the country's falling currency. The decision came after the rupiah weakened to its lowest since October 2015 on the back of Turkey's currency crisis. The deposit and lending facility rates were also increased by 25 bps to 4.75 percent and 6.25 percent respectively.

Excerpts from the Bank Indonesia Press Release:

Multispeed global economic growth has continued to stoke global economic uncertainty. The US economy continues to gain momentum on the back of accelerating consumption and investment. Meanwhile, the economies of Europe, Japan and China are moderating. Consequently, the Federal Reserve is expected to continue raising the Federal Funds Rate (FFR) gradually, contrasting the reluctance of the ECB and BoJ to hikes policy rates. In addition to the recent FFR hikes, widespread global uncertainty has been exacerbated by simmering trade tensions between the US and several other countries, which have triggered retaliatory actions around the world, including currency depreciation despite broad US appreciation. Global uncertainty has also been fuelled by the risk of spillovers from the economic shocks in Turkey caused by domestic economic fragilities and the adverse impact of negative sentiment surrounding the authorities’ policies, as well as looming tensions with the US. Bank Indonesia will remain vigilant of the external risks, including potential spillover from Turkey although sound economic fundamentals in Indonesia are indicative of solid national economic resilience, coupled with avowed policy commitment.

The national economy has accelerated significantly on strong domestic demand fuelled by private and government consumption.  GDP growth was recorded at 5.27% (yoy) in the second quarter of 2018, the fastest rate since 2013. Meanwhile, household consumption stood at 5.14% (yoy), bolstered by rising incomes, upbeat consumers and controlled inflation. In addition, consumption associated with the local elections also posted solid growth. Meanwhile, government spending has also improved, thereby catalysing strong domestic demand. On the other hand, solid investment growth has been maintained despite fewer total work days in June 2018 that restrained growth slightly. Growing domestic demand has prompted a surge of imports against comparatively subdued export performance. Looking forward, Bank Indonesia predicts solid economic growth on sound investment and consumption performance despite limited export gains. Building and nonbuilding investment remain strong, backed by infrastructure development and investment in the manufacturing industry. Meanwhile, several upcoming events, including the general election, are expected to maintain consumption. Consequently, Bank Indonesia projects economic growth in 2018 in the 5.0-5.4% (yoy) range, subsequently accelerating to 5.1-5.5% (yoy) in 2019.


Bank Indonesia | Joana Ferreira | joana.ferreira@tradingeconomics.com
8/15/2018 9:54:48 AM



Calendar GMT Actual Previous Consensus TEForecast
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%
2018-08-15 07:20 AM Interest Rate Decision 5.5% 5.25% 5.25% 5.25%
2018-09-27 07:00 AM Interest Rate Decision 5.5% 5.75% 5.75%
2018-10-23 10:00 AM Interest Rate Decision 5.75%
2018-11-15 10:00 AM Interest Rate Decision 5.75%


Indonesia Money Last Previous Highest Lowest Unit
Interest Rate 5.50 5.25 12.75 4.25 percent [+]
Interbank Rate 7.13 7.13 57.79 4.19 percent [+]
Money Supply M0 583200.00 605972.86 605972.86 2983.00 IDR Billion [+]
Money Supply M1 1383396.80 1452387.50 1452387.50 317.90 IDR Billion [+]
Money Supply M2 5505634.50 5533664.00 5533664.00 5156.00 IDR Billion [+]
Foreign Exchange Reserves 117900.00 118300.00 131979.64 27404.30 USD Million [+]
Loans to Private Sector 4391869.00 4388849.00 4391869.00 286724.00 IDR Billion [+]
Deposit Interest Rate 4.75 4.50 56.00 3.00 percent [+]
Lending Rate 6.25 6.00 15.75 5.00 percent [+]
Loan Growth 11.34 10.75 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 September of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
5.50 5.25 12.75 4.25 2005 - 2018 percent Daily




interest rate by Country
Country Last
Argentina 60.00 Sep/18
Turkey 24.00 Sep/18
Mexico 7.75 Aug/18
Russia 7.50 Sep/18
Brazil 6.50 Sep/18
India 6.50 Aug/18
South Africa 6.50 Sep/18
Indonesia 5.50 Aug/18
China 4.35 Aug/18
Saudi Arabia 2.50 Aug/18
United States 2.00 Aug/18
Australia 1.50 Sep/18
Canada 1.50 Sep/18
South Korea 1.50 Aug/18
Singapore 1.06 Aug/18
United Kingdom 0.75 Sep/18
Euro Area 0.00 Sep/18
France 0.00 Sep/18
Germany 0.00 Sep/18
Italy 0.00 Sep/18
Netherlands 0.00 Sep/18
Spain 0.00 Sep/18
Japan -0.10 Sep/18
Switzerland -0.75 Sep/18


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