Jakarta - Bank Indonesia (BI) has decided to maintain its BI-Rate at 6% during the November 2024 Board of Governors Meeting, as global economic volatility necessitates a focus on stabilizing the Rupiah.
Governor Perry Warjiyo emphasized the need to prioritize currency stability, stating, "We will continue to monitor opportunities for a potential rate cut as inflation stabilizes, targeting growth for 2025 and 2026."
BI's commitment to strengthening policy synergy with the government and other stakeholders aims to enhance national economic stability and transformation, targeting high growth towards Indonesia's 2045 vision.
In response to ongoing global challenges, the monetary policy will focus on stability while seeking avenues for growth. This includes macroprudential policies, digital payment system development, and support for micro, small, and medium enterprises (MSMEs).
For 2025, BI plans to stabilize the Rupiah through market interventions and purchases of government securities. Economic growth is projected at 4.8-5.6% year-on-year, with household consumption and investments also expected to rise.
Inflation is targeted to remain controlled within 2.5% ± 1% for 2025 and 2026, supported by consistent monetary and fiscal policies. The stability of the Rupiah and external factors is expected to improve, bolstered by healthy balance of payments and rising foreign reserves.
Credit growth is anticipated to increase by 11-13% in 2025 and 2026, with the digital financial economy projected to expand significantly.