Policy rate held steady to stabilise the rupiah amid global uncertainties
Bank Indonesia (BI) maintained its policy rate at 6.00% at its eleventh Board of Governor meeting this year, in line with expectations.
- The Deposit Facility and Lending Facility rates were also retained at 5.25% and 6.75%, respectively.
- BI statement: This decision aligns with previous policy statements, aiming to keep inflation "within the target of 1.5% - 3.5% in 2024 and 2025 and to support sustainable economic growth." It added, "The focus of monetary policy is directed at strengthening the stability of the rupiah exchange rate from the impact of increasing geopolitical and global economic uncertainty with political developments in the US."
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