JAKARTA, July 17 (Bernama-Xinhua) -- Indonesia's central bank has decided to keep the benchmark interest rates unchanged at 6.25 percent, Governor Perry Warjiyo announced on Wednesday, reported Xinhua.
This decision was made during a two-day meeting of the Bank Indonesia Board of Governors from July 16 to 17, which also kept the deposit facility rate at 5.5 per cent and the lending facility rate at seven per cent.
"This decision is consistent with a pro-stability monetary policy to ensure that inflation remains within the target range of 1.5 per cent to 3.5 per cent in 2024 and 2025," Warjiyo said at a press conference.
Warjiyo mentioned that the short-term monetary policy focuses on the strengthening of the effectiveness of stabilising the rupiah exchange rate and attracting foreign capital inflows.
Meanwhile, macroprudential policies and the payment system remain pro-growth to maintain stability and to support sustainable economic growth amid high uncertainty in the global market, Warjiyo said.
The central bank expects economic growth in the third and fourth quarters of this year to remain strong, alongside plans to increase fiscal stimulus from 2.3 per cent to 2.7 per cent of Gross Domestic Product, as well as improved export performance.
-- BERNAMA-XINHUA
