BI's Benchmark Rate Cut by 25 Basis Points to 4.25%

Desi Angriani    •    22 September 2017 23:05 WIB
finance and money
BI's Benchmark Rate Cut by 25 Basis Points to 4.25%
Illustration (Photo: MI/Panca Syurkani)

Metrotvnews.com, Jakarta: Bank Indonesia slashed the central bank's 7 Day Reverse Repo Rate by 25 basis points to 4.25 percent on Friday, September 22, 2017.

"This policy will be effective on Monday, September 25, 2017," said Bank Indonesia executive director Dody Budi Waluyo.

The deposit facility rate was reduced by 25 basis points to 3.5 percent. The lending facility rate was reduced by 25 basis points to five percent.

The move is aimed to strengthen the contry's financial system. The decision is expected to trigger higher gross domestic product growth.

Bank Indonesia slashed the benchmark interest rate to 4.5 percent in August 2017. The central bank maintained the benchmark interest rate at 4.75 percent from October 2016 to July 2017.



(WAH)