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BI Raises Rates For 2nd Straight Meeting

Reporting from Reuters and Channel News Asia says Bank Indonesia (BI) increased interest rates by more than expected on Thursday as it sought to keep a lid on inflation after the government raised fuel prices earlier this month.

Bank Indonesia (BI) raised the 7-day reverse repurchase rate by 25 basis points to 4.25-percent, as widely expected. Out of 30-economists polled by Reuters, 27-had expected such a move, while the remaining three had bet on a bigger 50-bp rate hike.

The bank also hiked the overnight deposit facility and lending facility rates by the same amount to 3.50-percent and 5.00-percent, respectively.

 Sources: Channel News Asia, Reuters

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Ridwan is one of Indonesia’s top executives with a long and illustrious career in the financial world. He holds several professional certifications including being a Certified Business Valuer (CBV) issued by the Australian Academy of Finance and Management; Broker-Dealer Representative (WPPE); and The Directorship Certification for Directors and Commissioners, issued by the Indonesian Institute of Commissioners and Directors.

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Ridwan has won a number of prestigious awards including the Best CFO Awards 2019 (Institute of Certified Management Accountant Australia-Indonesia); Asia Pacific Young Business Leader awarded by Asia 21 Network New York USA (Tokyo 2008); UK Alumni Business Awards 2008 awarded by the British Council; and The Most Inspiring Human Resources Practitioners’ version of Human Capital Magazine 2010.

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