JAKARTA. Bank Indonesia (BI) decided to keep its benchmark rate unchanged at 6.5 percent at the conclusion of its two-day board of governors meeting, while maintaining its deposit and lending rates at 4.5 percent and 7 percent, respectively. BI executive director of communications Tirta Segara explained that the central bank considered the economy to be stable, as reflected in a reasonable inflation rate at a range of 3 to 5 percent, as well as an improved current account deficit and a stable exchange rate. "The dissemination of information on monetary policies has also shown improvement, including the central's bank plan to change the benchmark instrument, which will be implemented on Aug. 19," Tirta said at a press conference in Jakarta on Thursday.
BI holds interest rate at 6.5%
JAKARTA. Bank Indonesia (BI) decided to keep its benchmark rate unchanged at 6.5 percent at the conclusion of its two-day board of governors meeting, while maintaining its deposit and lending rates at 4.5 percent and 7 percent, respectively. BI executive director of communications Tirta Segara explained that the central bank considered the economy to be stable, as reflected in a reasonable inflation rate at a range of 3 to 5 percent, as well as an improved current account deficit and a stable exchange rate. "The dissemination of information on monetary policies has also shown improvement, including the central's bank plan to change the benchmark instrument, which will be implemented on Aug. 19," Tirta said at a press conference in Jakarta on Thursday.