In the Board of Governor's Meeting on Thursday, 4 December 2008, Bank Indonesia decided to lower the BI Rate by 25 bps from 9.50% to 9.25%. The central bank has cut the benchmark interest rate for the first time in a year since 6 December 2007, when the BI rates were slashed by 25 bps from 8.25% to 8.00%. The decision was taken on account of the ongoing global financial turmoil and the slowdown in the world.
Bank Indonesia places great importance on carefully targeting monetary policy market to strike a balance between growth and safeguarding of monetary stability.On the domestic front, inflation has begun to show a sign of slowing down though the November figure continues to remain in double digit at 11.68%.
Bank Indonesia places great importance on carefully targeting monetary policy market to strike a balance between growth and safeguarding of monetary stability.On the domestic front, inflation has begun to show a sign of slowing down though the November figure continues to remain in double digit at 11.68%.
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