In accordance with the expectations of various circles, Bank Indonesia eventually lowers the reference interest rate, the BI Rate, by 25 basis points, to be 9.25 percent.
The decision of the Board of Governors Meeting (Board of Governors’ Meetings), Bank Indonesia was taken after a thorough evaluation of development and economic and financial prospects, both domestic and global.
“The Board of Governors considered that the impact of the financial crisis of the global economy increasingly evident, as seen in world economic growth estimates in 2009 that had fallen from 3.0 percent to 2.2 percent, which also began looking at the impact the national economy,” a Director of the Directorate of Strategic Planning Public Relations and the BI Dyah NK Makhijani in the press, BI, Thursday (4 / 12).
Mentioned, the decline in oil prices and various commodities have reduced inflation pressures in the country. “This reflected on monthly inflation of late, which continues to decline. Inflation rate in November 2008 recorded the lowest compared to the same month in previous years,” he added.
BI estimates, the decline in inflation pressures will continue in 2009. “Projected 2009 inflation of 6.5 percent-7, 5 percent is expected to be achieved and even open to the possibility of approaching the lower limit,” a Dyah.
Meanwhile, in the exchange rate, the BI asserts always in the market to oversee the development of policy through the exchange rate stabilization in the Forex market to reduce the volatility of rupiah.
The performance of the banking industry in general, the national remained steady, as reflected on various indicators of the main banks, such as CAR and NPLs. Meanwhile, the start of the trend seen a decrease in bank credit
“Considering the development of the domestic economy, the decision to lower the BI Rate to 9.25 percent level is expected to keep the passion in the business sector in the middle crisis the global economy, while maintaining macroeconomic stability,” said Dyah.
Recent Comments