Bank Indonesia Rate Decision - 22 February 2024

Holds rate steady at 6.00% to preserve rupiah

As expected, Bank Indonesia (BI) maintained the BI rate at 6.00% in its second Board of Governor meeting for this year

  • The Deposit Facility and Lending Facility rates were also maintained at 5.25% and 6.75%, respectively.
  • BI statement: reiterated the same tone since the end of last year that "consistent with the focus of pro-stability monetary policy, namely to strengthen the stabilisation of the rupiah exchange rate as well as a preemptive and forward-looking step to ensure inflation remains under control within the target range of 1.5% - 3.5% in 2024."