The Bank of Indonesia (BI) held the key 7-day reverse repurchase rate unchanged for the second straight month, as widely expected, at the over-three-year high of 5.75% during its March meeting in 2023. Policymakers said the decision was consistent with a neutral monetary policy stance aimed at achieving the inflation target of 2%-4% while supporting economic growth. BI said inflation was on track to get back within its 2%-4% target range from September this year, while core inflation would stay within target the whole year. The annual inflation accelerated to 5.47% in February ahead of the holy month of Ramadan from January's five-month low of 5.28%. The annual inflation hit a 7-year record of 5.95% in September 2022 amid rising global food and energy prices. The central bank maintained its growth outlook for this year at the upper end of its 4.5% to 5.3% range. The central bank also kept the overnight deposit and lending rates the same at 5% and 6.5%, respectively. source: Bank Indonesia
Interest Rate in Indonesia averaged 6.44 percent from 2005 until 2023, reaching an all time high of 12.75 percent in December of 2005 and a record low of 3.50 percent in February of 2021. This page provides - Indonesia Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Indonesia Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on March of 2023.
Interest Rate in Indonesia is expected to be 5.75 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Indonesia Interest Rate is projected to trend around 5.25 percent in 2024 and 5.00 percent in 2025, according to our econometric models.