Bank Indonesia's Benchmark Rate Maintained at 4.75%

Desi Angriani    •    21 Juli 2017 12:49 WIB
finance and money
Bank Indonesia's Benchmark Rate Maintained at 4.75%
Illustration (Photo: MI/Rommy Pujianto), Jakarta: Bank Indonesia maintained the central bank's 7-day Reverse Repo Rate at 4.75 percent this month.

"The decision is consistent with Bank Indonesia’s efforts to maintain macroeconomic and financial system stability, while considering the dynamics of global and domestic economy," Bank Indonesia spokesperson Arbonas Hutabarat said during a press conference on Thursday evening.

Bank Indonesia willl continue to monitor various risks, both global, especilly the Fed’s balance sheet normalization plan, and domestic, specifically the ongoing consolidation in the corporate and banking sectors.

"The global economy is improving as projected, despite several risks that demand vigilance," the spokersperson said.

Bank Indonesia will continue to strengthen coordination with the Government to control inflation within the target corridor and support the current structural reforms towards sustainable economic growth.

"Indonesia’s economic recovery process continue over the second quarter of 2017 albeit not as strong as previously projected," the spokesperson said.