Bank Indonesia Pangkas Suku Bunga Jadi 6 Persen
Bank Indonesia (BI) resmi memangkas suku bunga acuan sebesar 25 bps ke 6 persen dalam Rapat Dewan Gubernur Bank Indonesia (RDG BI) pada 17-18 September 2024.
Demikian pula suku bunga Deposit Facility juga dipangkas 25 basis poin menjadi 5,25 persen, dan suku bunga Lending Facility dipotong 25 bps ke level 6,75 persen.
Demikian pula suku bunga Deposit Facility juga dipangkas 25 basis poin menjadi 5,25 persen, dan suku bunga Lending Facility dipotong 25 bps ke level 6,75 persen.
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TVTranscript
00:00The program is brought to you by the Indonesian Government
00:21Hello viewers, you are watching Breaking News with me, Fadjar Wayong.
00:25The Indonesian Bank has announced the results of the Indonesian Government's meeting on September 2024.
00:32In August, the Indonesian Bank maintained the BI rate at 6.25 percent.
00:38So, what is the latest decision of the Indonesian Bank regarding the BI rate and also the assessment of Indonesia's economy?
00:44Let's take a look at the announcement of the results of the Indonesian Bank's meeting on September 2024.
00:52Today is September 18, 2024.
00:58The discussion is in-depth and of course we discuss in a broad and in-depth way
01:08the latest development assessment, prospects, global economy, domestic economy,
01:15inflation, exchange rate, payment system, financial sector, payment system,
01:23to formulate the next steps and respond to the policy of the Indonesian Bank
01:31as an implementation of the law to maintain the stability of the Rupiah value,
01:39the stability of the payment system, and also to support the stability of the financial system in the framework
01:47of promoting sustainable economic growth.
01:53Well, I will resume the discussion of the latest development, prospects, and direction of the global economy policy.
02:05I will start.
02:08The uncertainty of the monetary policy of developed countries is getting less and less
02:16as the global inflation pressure continues to decrease.
02:25In the United States, inflation is expected to get closer
02:34to 2 percent, slowing economic growth and increasing unemployment rates in the country.
02:50This development pushes the prospect of a decrease in the Fed Fund Rate,
02:58the rate of monetary policy of the United States,
03:02which is faster and larger than initially estimated.
03:09As a result, the US Treasury Tenor Yield for the past two years has decreased,
03:18so now it is lower than the US Treasury Yield for 10 years.
03:29The US Dollar Index is weakening against the main currency, or often abbreviated as DXY.
03:43In Europe, the European Central Bank, the ECB,
03:52has lowered its monetary policy flow rate in line with inflation,
03:59which has decreased towards its mid-range target, which is 2 percent.
04:07In Asia, among others, the People's Bank of China, the PBOC,
04:14has also lowered its flow rate in line with low inflation and weak domestic demand.
04:25Various developments are pushing to reduce the uncertainty of the global financial market
04:35and increase the flow of foreign capital into developing countries, including Indonesia.
04:45In the future, the clear direction of the decline in the development of developed countries,
04:52especially the United States, is expected to further push the flow of foreign capital
05:01and strengthen the external stability of developing countries, including Indonesia.
05:10This development will support the developing country's economic policy
05:18for its domestic economic goals in maintaining stability
05:24and promoting economic growth in each country.
05:31In the country, Indonesia's economic growth continues to show good performance
05:41and we need to continue to push it to be even higher.
05:48Investment continues to grow, especially construction investment,
05:55in line with the phase of the finalization of the IKN National Capital City Operation
06:03and the completion of various National Strategic Projects.
06:10Household consumption growth is still maintained, especially for the upper middle class.
06:20Non-carbon exports remain good, so as to support economic growth.
06:29Government spending, which is expected to increase at the end of this year,
06:35is also expected to support domestic demand.
06:41Various current indicators, including the results of the Indonesian Bank Survey,
06:47show that economic activities in Triwantiga 2024 are still good,
06:54as evidenced by high consumer confidence, positive market share,
07:03as well as increased capital import and cement sales.
07:09The Indonesian Bank estimates that economic growth in 2024 is estimated
07:18to be in the range of 4.7% to 5.5%. The midpoint is 5.1%.
07:29In the future, various efforts need to be continued to push Indonesia's economic growth
07:38to a higher level, both from the point of view of demand and supply.
07:47From the point of view of demand, the Indonesian Bank continues to strengthen policy,
07:57both monetary policy, macroeconomic policy, and payment system,
08:01to continue to push economic growth to a higher level.
08:06This is in close synergy with the government's fiscal stimulus policy.
08:12From the point of view of supply, the structural reform policy needs to continue to be strengthened
08:19to increase productivity and strengthen the economic growth structure,
08:26including the economic sector that can absorb labor
08:31and has high added value or added value.
08:37Indonesia's payment system remains good and supports Indonesia's external economic defense.
08:48Indonesia's payment system deficit in Triwantiga 2024 has declined,
08:55supported by capital and financial transaction surplus and healthy transaction deficit.
09:06Indonesia's payment system in Triwantiga 2024 continues to improve,
09:13supported by continued trade surplus, which in August 2024 was recorded as large as US$2.9 billion.
09:28Meanwhile, the flow of foreign portfolio investment continues and is recorded high,
09:39where in Triwantiga 2024, data until 13 September 2024 recorded a net inflow of US$10.1 billion,
09:55quarter-to-date data until 13 September 2024.
10:02This happened to all domestic financial instruments, including SBN, SRPI, and stock.
10:12Indonesia's debit surplus position at the end of August 2024 was recorded as increasing
10:21and highest in the history of our economy, which is as large as US$150.2 billion.
10:32The debit surplus position is equivalent to 6.7 months of import or 6.5 months of import
10:41and government foreign debt payment.
10:45The amount of debit surplus is far above the international sufficiency standard of around 3 months of import.
10:56In the future, Indonesia's payment system in 2024 is expected to remain healthy,
11:03with transactions running in a low-deficit range of 0.1% to 0.9% of domestic brutto or PDB products.
11:18The movement of capital and financial transaction surplus is also increasing,
11:24supported by the continuation of the increase in the flow of foreign capital,
11:30along with the reduction of the uncertainty of the global financial market,
11:35the positive perception of investors towards national economic prospects,
11:40and the increase in investment results in domestic financial assets, which remains attractive.
11:48The value of currency exchange is strengthening, supported by the consistency of Indonesia's Monetary Policy,
11:56as well as increasing the flow of foreign capital.
12:01The value of currency exchange in September 2024, data until 17 September 2024,
12:10increased to around Rp15,330 per US dollar,
12:21or increased by 0.78% compared to the position at the end of August 2024.
12:30This Rupiah strengthening is recorded higher than the regional currency appreciation,
12:38such as Korean Won and Indian Rupiah, which each strengthened by 0.32% and 0.13%.
12:49With this development, if compared to the level at the end of December 2023,
12:56the value of Rupiah exchange is also strengthened or appreciated by 0.40%,
13:04which is better than the development of other regional currencies,
13:10such as Indian Rupiah and Korean Won, which each experienced depreciation of 0.66% and 3.41%.
13:24In the future, the value of Rupiah exchange is expected to continue to strengthen,
13:31in line with the attractive results, low inflation and good prospects for Indonesia's economic growth,
13:41as well as Indonesia's commitment to maintain economic stability.
13:48To that end, the Bank of Indonesia will continue to optimize all monetary instruments,
13:55including the strengthening of the ProMarket Monetary Operations Strategy
14:00through the optimization of the Rupiah Security Instrument of the Bank of Indonesia,
14:06the Security of the SVBI Bank of Indonesia, and the SUVBI Bank of Indonesia,
14:14to strengthen the effectiveness of the division in attracting foreign capital flows
14:20and support further strengthening of the value of Rupiah exchange.
14:26Inflation remains low and remains in the range of 2.5% plus or minus 1%, which has been set for 2024 and 2025.
14:44The IHK Consumer Inflation Index in August 2024 was recorded low in all components,
14:53reaching 2.12% year-on-year.
14:58The total inflation was recorded at 2.02% year-on-year,
15:04while the volatile food inflation, the price of volatile food, continued to decline to 3.04% year-on-year,
15:14from the previous monthly level of 3.63% year-on-year.
15:21The decline in volatile food inflation is recorded in most parts of Indonesia,
15:26supported by an increase in food supply as the harvest season continues,
15:32as well as the tight synergy of the Central and Regional Inflation Control Team,
15:39the Central and Regional Inflation Control Team, and the Central and Regional Inflation Control Team,
15:42through the National Movement for Food Inflation Control, GNPIP.
15:48In the future, the Bank of Indonesia believes that the IHK's inflation is still under control in its target.
15:56The total inflation is expected to be maintained in line with the inflation expectations that are within the target,
16:03the economic capacity that is still large and can respond to domestic demand,
16:09imported inflation that is under control in line with the stabilization policy of the exchange rate of the Bank of Indonesia,
16:18as well as the positive impact of the development of digitalization.
16:23Volatile food inflation is expected to be under control, supported by the synergy of the Bank of Indonesia's
16:29and the Government's inflation control, both in the central and regional areas.
16:35In the future, the Bank of Indonesia continues to commit to strengthen the effectiveness of the monetary policy
16:42to maintain inflation in 2024-2025 in the target of 2.5% plus or minus 1%,
16:52while continuing to support the efforts to strengthen economic growth.
17:01The optimization of the pro-market monetary instruments, namely the SRBI, the SVBI, and the SUVBI,
17:09will continue to be carried out in the framework of strengthening the stability of the value of the exchange rate and achieving the target of inflation.
17:18This policy is also intended to accelerate the efforts to deepen the financial market and the real estate market,
17:26as well as to push foreign capital into the country.
17:33As of 17 September 2024, the positions of the SRBI, SVBI, and SUVBI instruments are recorded.
17:45They amount to Rp918.42 trillion for the SRBI, US$2.95 billion for the SVBI, and US$280 million for the SUVBI.
18:05The implementation of the SRBI has supported the efforts to increase the flow of foreign portfolios into the country and strengthen the value of the exchange rate.
18:17The ownership of non-residents in the SRBI reached Rp246.08 trillion or 26.79% of the total outstanding.
18:41The implementation of the Primary Dealer as part of the Blueprint Program to deepen the financial market and the real estate market will continue to be carried out,
18:54which since May 2024 has increased the SRBI transactions in the secondary market and the repurchase agreement transactions between market players.
19:09Thus, it strengthens the effectiveness of monetary instruments in stabilizing the value of the exchange rate and controlling inflation.
19:18In the future, Bangladesh will continue to optimize various innovations in the pro-market instruments,
19:24both in terms of volume and in terms of the drawback of the results, and is supported by strong fundamental economic conditions
19:32to push the continuation of the flow of foreign portfolios into the domestic financial market.
19:41Monetary policy transmission continues to run smoothly.
19:45The Indonesian flower market is moving around the BIRID, which is 6.44% on 17 September 2024.
19:57The SRBI flower population for the 6th, 9th, and 12th months of September 13, 2024 is recorded at levels 6.99%, 7.09%, and 7.11%,
20:16so it remains attractive to support the flow of foreign capital.
20:22The SBN balance sheet for the 2nd and 10th years has decreased.
20:27On 17 September 2024, each amounted to 6.47% and 6.55%.
20:37It is encouraged to increase non-residential applications by strengthening the flow of foreign capital into the SBN market.
20:47Meanwhile, the liquidity of banks is in line with the implementation of the balance sheet of the Indonesian Bank Policy,
20:55including the Macro-Budgetal KLM Liquidity Incentive Policy.
21:01The liquidity and efficiency of banks in creating a better price,
21:08which, among other things, is encouraged by the publication of the Transparency Assessment of the SBTK Basic Credit Flower Tribe,
21:17has a positive impact on the preserved flower tribe.
21:24The 1-month flower tribe and the credit flower tribe were recorded at 4.73% for the 1-month flower tribe
21:38and 9.21% for the credit flower tribe in August 2024.
21:43This figure is stable compared to the previous month level.
21:50The growth of credit in August 2024 remains strong, reaching 11.40% year-on-year.
22:01This development is supported by the supply side, in line with the interest in the preserved credit flow,
22:08as well as equitable funding, reallocation of liquid assets to credit by banks,
22:15and the support of the Macro-Budgetal KLM Liquidity Incentive Policy of the Indonesian Bank.
22:22Until Monday, September 2024, the Indonesian Bank has distributed
22:29a Macro-Budgetal KLM Liquidity Incentive Policy of Rp256.1 trillion
22:44to each of the Bank BUMN Group of Rp116.6 trillion,
22:53the National Private Bank Group of Rp110.5 trillion,
22:59the BPD Group of Rp24.4 trillion,
23:04and the Foreign Bank Branch Office of Rp2.6 trillion.
23:09The Macro-Budgetal KLM Liquidity Incentive Policy is distributed to priority sectors,
23:17namely mineral and food hydration, MSMEs, the automotive, trading, and gas,
23:26water, and electricity sectors, as well as the tourism and creative economy sectors.
23:33The credit growth is also supported by good requests from corporations,
23:39especially corporations in the capital-intensive sector,
23:43while corporate credit requests in the labor-intensive sector need to continue to be increased.
23:50Meanwhile, household credit requests remain, especially in the property sector.
23:59In terms of sector, the credit growth in the majority of economic sectors remains strong,
24:04especially in the industry sector, gas, water, and transportation.
24:10Based on the use groups, the credit growth is supported by labor capital credits,
24:16investment credits, and consumption credits, which each grow by 10.75 percent year-on-year.
24:29Investment credits grow by 13.08 percent year-on-year, and consumption credits grow by 10.83 percent.
24:40I repeat, labor capital credits grow by 10.75 percent, investment credits grow by 13.08 percent,
24:48and consumption credits grow by 10.83 percent as of August 2024.
24:55Serial loans and SME loans each grow by 11.61 percent and 4.42 percent.
25:05With this development, the credit growth of 2022-2024 is estimated to be at the upper limit of 10-12 percent.
25:19Bangunesa will continue to strengthen the implementation of the macro-business liquidity incentive policy,
25:27especially aimed at sectors that support the creation of jobs,
25:33sectors that become new sources of growth, tertiary sectors, and sectors that can increase inclusivity,
25:42including the lower-middle class.
25:46We will continue to pay attention to the principle of caution.
25:51The maintenance of the financial system is maintained well.
25:55Bank liquidity in August 2024 is still satisfied,
26:00guaranteed by the ratio of liquid assets to third-party funds,
26:04which is 25.37 percent.
26:09The capital adequacy ratio of banks in July 2024 is considered strong,
26:18which is recorded as high as 26.56 percent,
26:24so it is able to absorb risks and support the growth of credit.
26:29Meanwhile, the non-performing loan ratio of banks in July 2024 is maintained low,
26:38which is 2.27 percent gross and 0.79 percent net,
26:46after considering a reserve for non-performing loans.
26:52The defense of capital and bank liquidity is also supported by the ability to pay
26:59and the profitability of the maintained corporations,
27:02as well as the current bank stress.
27:07In the future, Bank Indonesia will continue to strengthen the policy synergy with the KSSK
27:12in mitigating various risks that may interfere with the stability of the financial system.
27:19The performance of economic and digital transactions in August 2024 is still strong,
27:27supported by a safe, smooth, and reliable payment system.
27:33In terms of large value, the BIRTGS transaction increased by 11.73 percent year-on-year
27:41to Rp14,731 trillion.
27:47In terms of retail, the volume of BIFAS transactions grew by 59.12 percent year-on-year
27:56to 312.67 million transactions.
28:02In terms of digital banking services transactions,
28:08the volume of 1,871 million transactions grew by 31.1 percent year-on-year.
28:17Meanwhile, in terms of electronic money transactions,
28:20the volume grew by 21.5 percent year-on-year to 1,247 million transactions.
28:29Payment transactions using ATM debit cards fell by 6.82 percent year-on-year
28:37to Rp591.9 million transactions.
28:42Credit card transactions grew by 22.8 percent year-on-year
28:48to Rp41.6 million transactions.
28:52Credit card transactions grew by 217.3 percent year-on-year
29:01to Rp52.55 million transactions.
29:08Merchant transactions grew by 33.77 million transactions.
29:14Meanwhile, in terms of money management,
29:17the amount of credit card money circulated grew by 11.43 percent year-on-year
29:24to Rp1,052.7 trillion.
29:29The stability of the payment system remains maintained,
29:33supported by a good structure and a sustainable infrastructure.
29:41In terms of infrastructure,
29:43the smoothness and reliability of the Indonesian Bank Payment System, SPPI,
29:48remains well maintained.
29:50From the industrial structure, interconnection, payment system,
29:54and expansion of the digital financial economy ecosystem,
29:58the EKD continues to increase.
30:01Payment transactions based on the National Open API Payment Standard or SNAP
30:08that facilitates interconnection in the payment system has grown positively,
30:12pushed by the expansion of the SNAP adoption for various types of use.
30:19As one of the initiatives of the Indonesian Payment System Blueprint 2030,
30:25on 11 September 2024,
30:28the Indonesian Bank has issued a notification to the Indonesian Payment System Professional Certification Institute
30:37or LSP-SPI, as the winning LSP,
30:42to initiate certification in the payment system field.
30:46The LSP-SPI was established by the Indonesian Payment System Association, ASPI,
30:54which is a representation of the payment system industry
30:59and is expected to play an active role in creating human resources,
31:05SDM, payment systems that have competent knowledge, skills, and attitudes
31:11in facing the challenges of the payment system in the digital era.
31:18The Indonesian Bank also continues to maintain the availability of rupiah money
31:22in a sufficient amount with adequate quality
31:26in all regions of the United Nations of Indonesia,
31:31including the 3T regions of Indonesia.
31:42By considering the assessment, development, and economic, global, and domestic prospects,
31:55on 17 and 18 September 2024, the Indonesian Bank Council decided
32:08to reduce the BIRID by 25 basis points to 6 percent.
32:17Likewise, the Deposit Facility BIRID fell by 25 basis points to 5.25 percent,
32:27and the Landing Facility BIRID also fell by 25 basis points to 6.75 percent.
32:39This decision is consistent with the still low inflation rate in 2024 and 2025
32:51which is controlled in the target set by the government, namely 2.5 plus minus 1 percent,
33:00the strengthening and stability of the value of rupiah exchange,
33:04and the effort to strengthen the national economic growth.
33:16That was the review, assessment, and complete statement
33:19from the Indonesian Bank Governor, Perry Warjo,
33:21related to the announcement of the results of the decision
33:23of the Indonesian Bank Governor's Council in September 2024,
33:27where the Indonesian Bank Council decided to reduce the BIRID by 25 basis points to 6 percent,
33:34as well as the Deposit Facility and Landing Facility BIRID.
33:38That's all for today's breaking news.
33:40I'm Fadjar Royong, see you next time.
33:57Thanks for watching.