BI Tahan Suku Bunga Acuan di 6 Persen
Rapat Dewan Gubernur (RDG) Bank Indonesia pada 22-23 November 2023 memutuskan untuk mempertahankan BI 7-Day Reverse Repo Rate (BI7DRR) sebesar 25 bps menjadi 6,00%. Suku bunga Deposit Facility juga ditahan di level 5,25%, dan suku bunga Lending Facility tetap di 6,75%.
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TVTranscript
00:00 [Music]
00:15 Good afternoon, viewers of Breaking News with me, Fadjar Royong.
00:20 Bank Indonesia's financial manager held a meeting of the Governor-General on November 22 and 23, 2023.
00:27 Previously, some economists predicted that Bank Indonesia will hold the Bunga Acuan tribe at 6% level,
00:33 in line with the current low pressure on the rupee.
00:36 In addition, the prediction that Bank Indonesia will hold the Bunga Acuan tribe also in line with the possibility that the Central Bank of the United States, or the Fed, will hold the Bunga tribe until the end of 2024.
00:45 And how is the current decision of Bank Indonesia at the meeting of the Governor-General on November 2, 2023?
00:51 Let's follow the announcement from the Governor of Bank Indonesia, Perry Warjo.
00:56 We, the senior Governor-General of Bank Indonesia, Ibu Destri Damayanti, Governor-General Donny Primento Yono,
01:07 Governor-General Yuda Agung, Governor-General Aida Esbuniman, and Governor-General Vilanese Hindrata,
01:14 have delivered the main points of the meeting of the Governor-General that we held on November 22 and 23, 2023.
01:28 As usual, we reviewed and also calculated the current economic conditions, both globally and internationally,
01:39 and formulated the policy framework to support economic growth through monetary policy,
01:49 to achieve inflation and stability in the value of the rupee exchange,
01:54 the policy of the Brazilian Bank to promote growth and maintain financial stability,
01:58 and also the payment system policy to accelerate the digital financial economy.
02:07 I will start with the global economic growth.
02:14 The global economic growth is slowing down with still high uncertainty.
02:22 The US economy is still growing strongly,
02:26 driven by domestic consumption and the domestic sector.
02:32 Meanwhile, the Chinese economy is slightly improving,
02:37 supported by consumption and the impact of fiscal policy stimulus,
02:41 although still in a downward trend.
02:44 In terms of the total, the Bank of Indonesia still expects global economic growth in 2023 to be 2.9%,
02:55 and will slow down to 2.8% in 2024.
03:02 Inflation in developed countries is still above target,
03:07 with gradually increasing pressure.
03:13 With this inflation development, the relationship between monetary policy, including the Fed Fund Rate,
03:19 is expected to remain high over the long term, or what is often called "higher for longer".
03:28 It is the obligation of the developed countries, especially the United States,
03:34 namely the US Treasury, to rise high because of the long-term risk premium,
03:40 or what is often called "premium term", related to the high demand for fiscal financing in the United States.
03:52 The uncertainty of the financial market is still continuing and has an impact on the volatility of capital flows
04:00 and the exchange rate pressure in emerging market countries, not excluding Indonesia.
04:08 Indonesia's economic growth is still strongly supported by domestic demand.
04:15 As we know, the economic growth in 2023 grew by 4.94% year-on-year,
04:26 supported by strong household consumption and increased investment in the middle,
04:32 followed by a decrease in government consumption and export activity. Growth is also supported by positive activity
04:40 in most business sectors, especially the industries,
04:47 large and small businesses, and construction.
04:53 In terms of space, all regions are still growing strongly. The highest is recorded in the Sulawesi, Maluku, Papua, and Sulambua regions.
05:04 Economic growth in movement will remain good in the 4/20/23 trend,
05:11 reflected in several indicators such as consumer confidence,
05:17 expectation of income, and purchasing managers' index (PMI) manufacturer.
05:24 In terms of excitement, economic growth in 2022-2023 is estimated at 4.5% to 5.3%.
05:36 Economic growth in 2022-2024 is expected to increase,
05:42 supported by consumer confidence, positive impact of election campaign,
05:48 and the development of national strategic projects.
05:53 Bank Indonesia will continue to strengthen the government fiscal stimulus synergy
05:58 with the macro stimulus provided by Bank Indonesia to boost economic growth,
06:04 especially from the demand side.
06:07 The performance of the Indonesian National Bank remains healthy,
06:13 so it supports the maintenance of external stability.
06:17 The Indonesian National Bank's deficit in the 3/20/23 trend is recorded low,
06:23 which is US$1.5 billion, much lower than the previous trend,
06:30 which was US$7.4 billion.
06:35 The decline in the Indonesian payment deficit is supported by a larger trade deficit surplus
06:43 and a lower capital and financial deficit,
06:48 amid global economic uncertainty.
06:53 Entering the 4/20/23 trend, the positive trade deficit is continuing,
07:00 with the surplus reaching US$3.5 billion in October 2023.
07:08 Foreign capital is also returning to the domestic financial market,
07:13 reflected in the Portofolio investment, which until 21 November 2023
07:20 recorded a net inflow of US$2.6 billion.
07:27 The deficit position at the end of October 2023 remains the same,
07:35 which is US$133.1 billion,
07:41 equivalent to a 6.1-month import payment or 5.9-month import and foreign debt payment.
07:51 The deficit position is far above the international standard of sufficiency,
07:57 around 3 months of import.
08:00 In the future, the Indonesian payment deficit throughout the year 2023 is expected to remain
08:09 with a running transaction deficit of 0.4% to 0.4% of GDP.
08:24 In 2024, the Indonesian payment balance is expected to improve,
08:31 supported by a trend of foreign capital entry along with a strong domestic economic prospect.
08:40 The exchange rate is under control, in line with the stabilization policy set by the Bank of Indonesia.
08:47 The exchange rate on 22 November 2023 increased by 1.99%,
08:54 compared to the level at the end of October 2023.
09:00 Year-to-date, the exchange rate of rupiah is recorded to be stable, with a low depreciation,
09:07 which is 0.04% of the level at the end of December 2023.
09:14 It is better than the rupiah of India, baht of Thailand, and ringgit of Malaysia,
09:19 which are each recorded to be 0.70%, 1.7%, and 5.84%.
09:30 The strengthening of the value of rupiah exchange is driven by the trend of foreign capital entry
09:36 to the domestic financial market, in line with the positive perception of investors
09:41 about the economic prospects that are still good, with a stable stability,
09:47 and the yield of interesting domestic financial assets,
09:51 amid the uncertainty of the global financial market that is still high.
09:56 In the future, the effort to stabilize the value of rupiah exchange will continue to be strengthened
10:00 to keep up with its fundamental value and support the control of import prices,
10:07 or what is often called imported inflation.
10:10 The strategy of the pro-market monetary operation through the instrument of rupiah security of the Bank of Indonesia
10:17 and foreign currency security of the Bank of Indonesia, the SRBI and the SVBI, is optimized
10:25 to improve the management of liquidity of domestic financial institutions
10:30 and attract foreign portfolio entry from abroad.
10:36 The Bank of Indonesia continues to strengthen coordination with the government, banks, and the world of business
10:42 to support the implementation of the instrument of placing the balance sheet of export-resource dividend
10:50 which is required by the Government Regulation No. 36 of 2023.
10:58 Inflation remains low and is maintained in the target range set by the Government,
11:05 which is 3 plus or minus 1 percent for 2023.
11:10 The consumer price index inflation in October 2023 is at 2.56 percent year-on-year,
11:21 although slightly higher than the previous month's level of 2.28 percent year-on-year.
11:29 The inflation is recorded low, which is 1.9 percent year-on-year,
11:36 down from the previous month's 2 percent as a result of consistency of the Flower Tribes Policy
11:44 and the stabilization of the value of rupiah exchange imposed by the Bank of Indonesia.
11:50 The volatile food group inflation, the price of volatile food remains 5.54 percent year-on-year,
12:01 in line with the tight synergy of inflation management between the Bank of Indonesia and the Government
12:07 both in the central and regional areas in the Central and Regional Inflation Management Teams
12:13 and the National Movement for Food Inflation Management (GNPIP) in various regions.
12:21 The price group inflation set by the Government's Administered Prices is recorded at 2.12 percent year-on-year,
12:30 slightly higher than the previous month's level of 1.99 percent year-on-year.
12:37 In the future, the Bank of Indonesia will continue to monitor a number of risks that can interfere with the control of inflation,
12:44 including the high impact of global energy prices, domestic food prices,
12:49 and depreciation pressures in rupiah exchanges against imported inflation.
12:55 For that, the Bank of Indonesia continues to strengthen the monetary policy and strengthen the synergy
13:01 with the central and regional governments to ensure that inflation remains controlled at an average of 3 plus or minus 1 percent in 2023
13:12 and 2.5 plus or minus 1 percent in 2024.
13:19 The Bank of Indonesia continues to strengthen innovation to increase the effectiveness of monetary policy
13:26 in ensuring that inflation is controlled and the value of rupiah exchanges remains stable.
13:32 In this regard, the Bank of Indonesia optimizes the SRBI and SVBI pro-market monitoring instruments
13:40 in order to strengthen the efforts of the financial market and the financial market,
13:45 supporting the effort to attract portfolio inflows by optimizing SBN assets and financial letters
13:53 that are owned by the Bank of Indonesia as an underlying.
13:57 The SRBI's interest rate has reached Rp168.81 trillion until 21 November 2023,
14:08 which is among others pushed by the inflow of foreign portfolio investment, which amounts to Rp27.25 trillion.
14:20 In addition, the Bank of Indonesia also offers SVBI as a monetary policy instrument
14:26 with a fund-raising fund on 21 November 2023.
14:31 The market welcomes the SVBI offering as it is reflected in the high offer of US$266.5 million,
14:43 which is higher than the target of the US$200 million.
14:51 Subsequently, the Bank of Indonesia plans to offer the Indonesian Sukuk Falas Bank,
14:57 the SUBBI, with the first cash on 28 November 2023.
15:04 These various instruments are expected to support the pro-market monetary operation strategy
15:12 and further deepen the financial and financial markets,
15:16 as well as attract income flows to strengthen Indonesia's external economic defense
15:25 from the impact of global recession.
15:29 The liquidity of the economy remains moderate.
15:33 The location of Giro Bank in the Bank of Indonesia is declining
15:37 as implemented the macro-budgetal KLM liquidity incentive policy,
15:44 which is rapidly resulting in the growth of the primary currency M0 on 22-23 October,
15:51 with a contract value of 7.5% year-on-year.
15:55 Meanwhile, the growth of the private currency in the broad sense M2 on 22-23 October,
16:03 with a contract value of 3.4% year-on-year,
16:07 is supported by growth of the private currency with a contract value of 7.8% year-on-year
16:14 and the card money with a contract value of 6.7% year-on-year.
16:19 From the factors that affect the growth of the private currency in the broad sense M2,
16:27 it is encouraged by the strong and expanding credit of the Government Financial Operations.
16:33 The Government Financial Operations on 22-23 October recorded an expansion of Rp85.43 trillion,
16:40 after previously recorded a contraction of Rp269.36 trillion until September 22-23.
16:51 The liquidity in the banks is still adequate and supports the maintenance of the financial system stability.
17:00 On 22-23 October, the ratio of liquid assets to third-party funds AL/DBK
17:07 remained high, namely 26.36%.
17:12 The contraction of the SRPI also increased the flexibility of the banks in managing liquidity,
17:18 so as to support the maintenance of lending capacity from the banks.
17:25 The liquidity development has a positive impact on the banks' relations
17:29 with the banks' depository relations within one month and the credit relations.
17:34 On 22-23 October, each was maintained at 4.4% and 9.37%.
17:43 The liquidity in the banks remains adequate and is also supported by the implementation
17:48 of the KLM Macro-Budgetary Liquidity Incentive Policy, which has been effective since 1 October 2023.
17:57 With a total liquidity incentive of Rp138 trillion per November 2023,
18:08 the Bank of Indonesia continues to increase the effectiveness of implementing the KLM liquidity incentive
18:14 to encourage the distribution of bank loan payments to priority sectors
18:21 in order to support the sustainable economic growth.
18:26 The intermediary of the banks also continues to grow positively,
18:31 supported by good lending capacity along with abundant liquidity.
18:38 The growth of third-party funds reached 3.43% year-on-year on 22-23 October.
18:46 Meanwhile, the credit of the banks on 22-23 October grew 8.99% year-on-year.
18:54 The increase in financing requirements is supported along with the maintenance of corporate
19:01 and household consumption.
19:03 In terms of sectoral growth, the credit is mainly supported by the social services sector,
19:09 the world of business and mining.
19:12 The daily financing also continues to increase to 14.68% year-on-year on 22-23 October.
19:21 In the UMKM segment, the credit growth reached 8.36% year-on-year,
19:28 among others supported by the increased exchange rate.
19:33 In the future, Bank of Indonesia will continue to encourage the distribution of bank loan payments
19:37 and strengthen the synergy with the Government to maintain the momentum of economic growth,
19:42 especially in the priority sectors, including green economy.
19:47 By observing the growth, the credit growth forecast for the entire year of 2022-2023 is around 9-11%.
19:59 The stability of the financial system is also affected by high capital and low credit risk.
20:09 The ratio of capital adequacy ratio (CAR) recorded at a high level, which is 27.33% on September 22-23.
20:21 Meanwhile, the credit risk is also affected by the low ratio of non-performing loan (NPL) credit,
20:30 which is 2.43% gross and 0.77% net.
20:38 The results of the Bank of Indonesia stress test also show that the bank's resilience remains strong in facing global pressure.
20:47 Bank of Indonesia will continue to strengthen the synergy with the KSSK in mitigating various risks
20:54 that may interfere with the stability of the financial system and momentum of economic growth.
21:02 The economic and digital transactions are still strongly supported by a secure, smooth, and reliable payment system.
21:13 In October 2022-2023, the value of electronic money transactions increased by 17.67% year-on-year
21:22 to 41.71 trillion rupiahs per month.
21:27 Meanwhile, the value of digital banking transactions recorded at 5,118.9 trillion rupiahs
21:36 grew by 15.57% year-on-year.
21:41 The nominal transaction rate (CRIS) recorded at 186.1% year-on-year
21:49 and reached 24.97 trillion rupiahs in October 2022-2023,
21:58 with a total of 43.44 million users and a total of 29.63 million merchants,
22:07 most of which are SMEs.
22:12 Bank of Indonesia continues to promote the acceleration of the digitalization of the payment system
22:19 and the expansion of cooperation with the inter-state payment system,
22:22 promoting financial economic inclusion and expanding the digital economy and finance.
22:28 Meanwhile, the value of ATM, debit and credit cards transactions reached 664.9 trillion rupiahs
22:39 or down by 3.53% year-on-year.
22:44 In terms of money management, the amount of card money circulated in October 2022-2023
22:51 increased by 5.73% year-on-year to 957.7 trillion rupiahs.
23:00 Bank of Indonesia continues to ensure the availability of money in sufficient amounts
23:05 with a maintained quality in all regions of the National Reserve,
23:09 including the fulfillment of Christmas and New Year's needs.
23:14 In addition, Bank of Indonesia also continues to ensure the availability of money
23:19 through the money circulation program to the outside,
23:24 front and rear areas, as well as the activities of cash cleaning,
23:28 cash deposit and rupiah expedition.
23:34 Those are the main points of discussion that underline the decision of the Bank of Indonesia policy.
23:45 The Gubernur Bank of Indonesia Council on 22 and 23 November 2023
23:55 decided to maintain the BI-7D Reverse Repo Rate of 6%,
24:04 the Deposit Facility Relation remains at 5.25%,
24:09 and the Landing Facility Relation remains at 6.75%.
24:16 This decision remains consistent with the stabilization policy of rupiah exchange rates
24:23 from the high impact of global inequality,
24:26 as well as as a pre-emptive and forelooking step to mitigate the impact
24:33 of imported goods inflation.
24:37 So that inflation remains controlled at an average of 3 plus or minus 1 percent in 2022-23
24:44 and 2.5 plus or minus 1 percent in 2022-24.
24:50 Meanwhile, to support the sustainable economic growth,
24:56 the macro-budgetary policy continues to be strengthened
25:00 through the strengthening of the implementation of the macro-budgetary liquidity incentive policy (KLM)
25:05 and the reduction of the ratio of the PLM macro-budgetary liquidity stakeholders
25:09 to boost financing credits to the business world.
25:13 The acceleration of the digitalization of payment systems,
25:16 including the digitalization of government, central, and regional financial transactions,
25:20 is also continued to be pushed for the expansion of economic inclusion and digital finance.
25:27 The Bank of Indonesia continues to strengthen the monetary policy, macro-budgetary,
25:31 and payment system to maintain stability and support the sustainable economic growth
25:39 through the following steps.
25:44 First, the stabilization of the currency exchange value through intervention in the market of goods,
25:50 both in terms of spot and forward through domestic...
25:55 Yes, we have heard together
25:59 how the statement of the Indonesian Bank Governor Perry Warjo
26:04 related to the results of the Governor's Meeting in November 2023.
26:08 The Bank of Indonesia again decided to maintain the Bung Acuan tribe at level 6 percent
26:13 with the landing facility and deposit facility that has not changed since the previous month.
26:18 There is also an economic growth in Indonesia is expected in 2023 at 4.5 to 5.3 percent
26:24 with inflation in the range of 3 plus minus 1 percent.
26:29 And that's all for today's breaking news.
26:31 I am Fajar Roy, the official news reporter for TGS.
26:34 Thank you. See you again.
26:37 For more information, visit www.tgs.org
26:42 TGS - The International Cooperation and Development Organization
26:46 International Cooperation and Development Organization
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