JAKARTA, May 22 (Xinhua) -- The central bank of Indonesia has decided to maintain its benchmark interest rate at 6.25 percent, Governor of Bank Indonesia 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 and decided to keep the interest rates for the lending and deposit facilities at 7 percent and 5.50 percent, respectively.
Warjiyo said the aim behind maintaining the benchmark interest rate was "to ensure stability and support sustainable economic growth amidst still high uncertainty on global financial markets."
This move is in line with pre-emptive and forward-looking steps to guarantee that inflation stays between 1.5 and 3.5 percent, retain foreign capital inflows, and preserve the value of the rupiah, added Warjiyo.
To ensure sustainable economic growth, Indonesia persists in implementing lax macroprudential policies that aim to promote banking lending to households and enterprises.
Similarly, according to Warjiyo, payment system regulations aim to increase acceptance of digital payment systems while fortifying the stability of the industry's structure and infrastructure. ■