• 3 months ago
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.

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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.

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