JAKARTA, Oct. 22 (Xinhua) -- The central bank of Indonesia has decided to maintain its benchmark interest rate at 4.75 percent, Governor of Bank Indonesia (BI) Perry Warjiyo announced at a press conference on Wednesday.
Following a two-day meeting on Tuesday and Wednesday, the board of governors made the decision to keep the interest rates for the lending and deposit facilities at 5.50 percent and 3.75 percent, respectively.
Warjiyo said that the decision is consistent with the 2025 and 2026 inflation forecast, which remains low within the target range of 2.5 percent, within a one-percentage-point tolerance band.
The decision is an effort to maintain the stability of the Indonesian rupiah exchange rate in line with fundamentals, amidst still-high global economic uncertainty, and to foster synergy to drive Indonesia's economic growth, he added.
He promised that the central bank will continue to monitor the effectiveness of the transmission of the loose monetary policy that has been implemented, the prospects for economic growth and inflation, and the stability of the Indonesian rupiah exchange rate, taking advantage of the opportunity for BI's rate reductions. ■
