BI Raises Reference Rate, Inflation Subsides
The inflation rate, which rose precipitously in previous months due to increasing prices of fuel and imported goods, has begun to subside. Bank Indonesia (BI) again raised its benchmark interest rate by 25 basis points.
Governor of Bank Indonesia (BI) Perry Warjiyo (third from left) gives a statement at a press conference on the results of the January 2023 BI Board of Governors Meeting, Jakarta, Thursday (19/1/2023). Perry is accompanied by (left to right) Deputy Governor of BI Juda Agung, Deputy Governor of BI Dody Budi Waluyo, Senior Deputy Governor of BI Destry Damayanti, Deputy Governor Doni Primanto Joewono, and Deputy Governor Aida S Budiman.
JAKARTA, KOMPAS —Bank Indonesia (BI) again raised its benchmark interest rate by 25 basis points to 5.75 percent on Thursday in a bid to curb core inflation within the central bank target of 2-4 percent in the first half of 2023.
The inflation rate, which rose precipitously in previous months due to increasing prices of fuel and imported goods, has begun to subside.