Bi indonesia

Jakarta(ANTARA News) - Bank Indonesia (BI), Indonesia`s central bank, may start to consider issuing its digital currency (CBDC), following the currently growing e-commerce trend, according to an official. BI Director of Financial System Policy, Erwin Haryono, noted here on Tuesday that the trend of e-commerce is one of indicators for issuing some official cryptocurrency. "If the need for a digital currency would be met by unofficial entities, it would not be stable. Hence, it should be made by the authority, and when people need it more, the bank central should take over," he remarked at a financial discussion in Jakarta. At present, BI has been studying the positive and negative impacts of CBDC`s issuance in Indonesia, in a bid to encourage safe and secured digital finance. Similar measures were also taken by other central banks worldwide. On the other hand, the central bank must also consider the effects of CBDC on the economy due to its risk in reducing the use of cash money and … [Read more...] about E-commerce trend may push digital currency`s issuance: BI

Jakarta,  (ANTARA News) - Bank Indonesia (BI), Indonesia`s central bank, has rejected some reports of the current depreciation of the rupiah being caused by the unchanged BI rate, or officially called the "7-Day Reverse Repo Rate" in July. BI`s Deputy Governor Erwin Rijanto denied claims that the rupiah had weakened on Friday owing to a negative response from the market after the central bank decided to keep the BI rate at 5.25 percent during a meeting of the board of governors on Thursday. The BI had raised the rate up to 100 basis points in the last two months. "If we look at it from a broader perspective, it is not only the rupiah that has depreciated today but also other currencies," Rijanto pointed out. Rijanto noted that an improvement in the US economic data had strengthened the US dollar and widely impacted the depreciation of currencies of developing economies, including the rupiah. According to the Jakarta Interbank Spot Dollar Rate on Friday, the rupiah had opened … [Read more...] about Rupiah`s slump not caused by unchanged BI rate: Bank Indonesia

Jakarta (ANTARA News) - Indonesia`s official reserve assets stood at US$122.9 billion as of end-May 2018, still high enough although lower than the April-end 2018 level of $124.9 billion. "The reserve asset position was equivalent to financing of 7.4 months of imports or 7.2 months of imports and servicing of government external debt, well above the international standard of reserve adequacy of 3 months of imports," said the Executive director of the central bank`s communication department, Agusman, in a statement here on Friday. Bank Indonesia felt the official reserve assets were enough to support external sector resilience and maintain macroeconomic and financial system sustainability. The decline in the reserve assets in May was mainly due to the use of foreign exchange to repay government external debt and to stabilise the rupiah in the midst of high uncertainty in the global financial market. Going forward, Bank Indonesia believed the official reserve assets would remain … [Read more...] about Indonesia`s official reserve assets at $122.9 billion: BI

Jakarta (ANTARA News) - Banks have no reason to raise deposit rates soon despite a 0.5 per cent rise in the 7-Day Reserve Repo Rate, according to the Bank Indonesia (BI) Governor, Perry Warjiyo. BI would always maintain the liquidity supply in such a way that banks would not compete to raise their deposit rates to obtain funds, he said here on Friday. "We have stated that BI will ensure that liquidity supply is more than enough. It is not just enough but more than enough," he said. If a bank raised its fund interest rate, normally it would increase its lending rate to reduce fund costs, he said. At the start of the holy month of Ramadan in the middle of May 2018, BI admitted that bank liquidity had become tight due to massive withdrawal of funds ahead of the post-fasting month festivities or Lebaran. But the massive withdrawal of funds would be temporary, he said. "Given the liquidity supply, banks have no reasons to increase interest rates," he said. According to data from the … [Read more...] about Banks have no reason to raise deposit rates soon: BI

Jakarta (ANTARA News) - The Consumer Price Index (CPI) inflation in May 2018 remains controlled or within the targeted range of 3.5?1 per cent (year-on-year). "CPI inflation in May 2018 stands at 0.21 percent (month-to-month), increasing compared to that in the previous month of 0.10 per cent (mtm) as Ramadan was approaching," the Executive director of the central bank`s communication department, Agusman, said in a statement here on Thursday . Despite the increase, CPI inflation in May 2018 was lower than the average CPI inflation during Ramadan in the previous four years of 0.63 per cent (mtm). This month`s CPI increase was boosted by the rise in all inflation components according to the seasonal pattern, said Bank Indonesia. With such a development, until May CPI inflation had reached 1.30 per cent (ytd) or 3.23 per cent (yoy), lower than the previous month`s inflation of 3.41 per cent. The controlled CPI inflation was backed by the stable core inflation. Core inflation stood at … [Read more...] about May 2018 inflation remains controlled : BI