Jakarta, CNBC Indonesia – Bank Indonesia (BI) raised its benchmark interest rate by 25 basis points to 5.50% during its Board of Governors (RDG) meeting which took place on 21-22 December 2022.
“The Board of Governors meeting agreed to raise BI’s 7-day reverse repo rate by 25 basis points,” BI Governor Perry Warjiyo said at a press conference on Thursday (12/22/2022)
Meanwhile, the Deposit Facility is 4.75% and the Lending Facility interest rate is 6.25%.
The market consensus compiled by CNBC Indonesia is divided between those who expect an aggressive and moderate hike in the benchmark interest rate this month.
Of the 14 institutions involved in consensus building, 12 institutions/institutions estimate that the central bank will raise the BI7DRR by 25 basis points (bps) to 5.50%.
For the record, BI raised its key interest rate by 175 bps in just four months, respectively by 25 bps in August, 50 bps in September, 50 bps in October and 50 bps in November.
The rate hike of 175 basis points was the most aggressive since 2005.
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Surprisingly, Bank Indonesia raised its key rate by 25 basis points
(I/I)
