BI Maintains Key Rate at 6%

Nia Deviyana    •    20 Desember 2018 16:58 WIB
macroeconomics (en)
BI Maintains Key Rate at 6%
Illustration (Photo:MI/Usman)

Jakarta: Bank Indonesia (BI) decided to maintain its 7-Day Reverse Repo Rate at 6.00% after a Board of Governors meeting at the BI headquarters in Central Jakarta on Thursday.

"While also maintaining the Deposit Facility and Lending Facility rates at 5.25% and 6.75% respectively," BI Governor Perry Warjiyo said.

According to BI's press release, the policy rate will strengthen efforts to maintain the attractiveness of domestic financial assets and reduce the current account deficit. In addition, the central bank will also strengthen coordination with the Government and other relevant authorities to maintain economic stability and strengthen external resilience.

"Which includes reducing the current account deficit to around 2.5% of GDP in 2019," the written statement said.

According to the Central Statistics Agecny (BPS), Indonesia posted a trade deficit of US$2.05 billion in November. Cumulatively, the country recorded a trade deficit of USD7.52 billion from January until November.

According to the report, the country's export value stood at USD14.83 billion last month. The number dropped by 6.69 percent compared to the previous month.

On the other hand, the country's import value stood at USD16.88 billion last month. The number dropped by 4.47 percent compared to the previous month.



(WAH)