Maintaining Benchmark Rate, Encouraging Growth

Summary

Bank Indonesia's Board of Governors Meeting (RDG) to leave the BI 7-Day Reverse Repo Rate (BI 7 DRR) unchanged at four percent. Bank Indonesia Governor Perry Warjiyo called the decision a consistent measure to encourage economic recovery during the COVID-19 pandemic.

Perry said the central bank maintained the benchmark interest rate by considering various aspects, including the inflation and domestic and global financial system. "This decision takes into account the rupiah exchange rate, amid a prolonged low inflation condition," he said, Thursday (9/17). With the decision, Bank Indonesia has maintained its low-interest-rate policy since early 2020.

BI 7-Day Reverse Repo Rate in 2020

Month        

Rate (%)

January

5.00

February

4.75

March

4.50

April

4.50

May

4.50

June

4.25

July

4.00

August

4.00

September

4.00

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