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January 15, 2025 | 06:23 pm
TEMPO.CO, Jakarta - Bank Indonesia (BI) Board of Governors meeting in January 2025 decided to cut the benchmark interest rate to 5.75 percent from 6 percent.
BI Governor Perry Warjiyo said the interest rate fell by 25 basis points after a period of stability of 6 percent since September. "The BI Board of Governors meeting on January 14-15, 2025, decided to lower the BI rate by 25 basis points to 5.75 percent," he said in a press conference on Wednesday, January 15, 2025.
In addition, the deposit facility will decrease by 25 basis points to 5.00 percent from the previous 5.25 percent. Meanwhile, the lending rate will also fall 25 basis points to 6.50 percent.
This decision is in line with the government's commitment to maintaining macroeconomic stability, said Perry. By keeping the inflation rate at 2.5±1% and the rupiah exchange rate in line with its fundamentals, the government is expected to create a conducive investment climate. The interest rate cut was made by considering the balance between controlling inflation and stimulating economic growth.
Perry added that the rupiah exchange rate against the US dollar until January 14, 2025, only weakened by 1.00 percent from the rate at the end of 2024. The rupiah's performance against the US dollar is also relatively better than other currencies. These include the Indian rupee, Philippine peso, and Thai baht, which weakened by 1.20 percent, 1.33 percent, and 1.92 percent, respectively.
Editor's Choice: Bank Indonesia Keeps Benchmark Rate at 6.25
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