Bank Indonesia Reveals Purchase Of SBN To Be Careful So As Not To Disturb Stability

JAKARTA - Bank Indonesia (BI) has revealed that the policy of purchasing Government Securities (SBN) is carried out very carefully and measurably so as not to disrupt economic stability.

For information, BI plans to purchase SBN of more than IDR 50 trillion in the secondary market this year and plans to also buy SBN for program funding of 3 million houses.

Director of the Department of Monetary Management and Securities Assets of Bank Indonesia (BI), R. Tri Wahyono, explained that the policy of purchasing Government Securities (SBN) in BI was carried out very carefully.

According to him, this policy starts from determining the amount of purchases that are adjusted to the needs of economic liquidity, as well as existing market conditions.

"Jadi mulai dari kebijakan besaran itu seperti apa, kebenuhan likuditas untuk petkonominya seperti apa, dari mulai besarannya dulu sampai akhirnya operasinya di tempat kami di Departemen Pengelolaan Moneter dan Asset Sekuritas (DPMA)," tutur Tri dalam Taklimat Media, Kamis, 6 Maret.

In addition, Tri said that when BI purchases SBN, it will see market conditions so that it will not distort the prices in the market.

According to him, the purchase of SBN by BI was made to stabilize the market, especially when there was massive sales by foreign investors who left the SBN market.

"So when foreigners want to leave the SBN market, that's where we stabilize it by making purchases," he said.

Tri said the main purpose of this purchase was to prevent price distortions in the market and to maintain exchange rate stability.

Therefore, Tri emphasized that the purchase of SBN was carried out carefully so that the impact would not spread to other sectors, including the exchange rate which was maintained at its stability.

"So we do it very carefully, so that the impact of the rambatan from what we do will not go anywhere, let alone be related to the exchange rate," he said.