Indonesia: BI: 7-D Repo Rate kept at 3.50%

  • The Bank Indonesia Board of Governors Meeting (RDG) on 18-19 Oct 21 decided to maintain the BI 7-Day Reverse Repo Rate (BI7DRR) at 3.50%, the Deposit Facility interest rate at 2.75%, and the Lending Facility interest rate at 4.25%.
  • BI also stated that they will continue an accommodative monetary policy, combined with other measures such as extensions of loan repayment deadlines to support the economy.
  • The central bank also maintained its forecast for economy to grow 3.5%-4.3% in 2021.
  • 2021’s average inflation expected to be below midpoint of 2%-4% range
  • Core inflation is still low, in line with weak domestic demand
  • Demand for business and consumer loans is improving, with loan growth expected to reach 4%-6% in 2021.

External Link :