BI Rate Increases To 6.25 Percent, BCA Still Wait And See

BCA (Photo: BCA)

JAKARTA - Bank Indonesia (BI) decided to raise the benchmark interest rate (BI-Rate) to the level of 6.25 percent at the Board of Governors' Meeting (RDG) which took place on April 23-24, 2024.

In addition, BI also raised the deposit facility interest rate and lending facility rate by 25 basis points, bringing it to 5.50 percent and 7.0 percent, respectively.

Responding to this, BCA's EVP Corporate Communication and Social Responsibility Hera F. Haryn said the company had no plans to raise interest rates in the near future.

This is because his party will still see what macroeconomic conditions in Indonesia look like and see the geopolitical conditions globally.

"Yesterday we met with analysis and economists as well, how conditions globally are still challenging, how the Fed, which is said to have matured up to 10 trillion US dollars. That, right, is a high uncertainty. So in our opinion, we will continue to observe what the conditions are," Hera told reporters after being met in the #BuktiBaktiBCA Campaign Launch agenda in Plataran City Forest, Senayan, Jakarta, Wednesday, April 24.

With the increase in interest rates, said Hera, BCA did not immediately increase the interest rate and loan interest rate.

The banking, he continued, would pay close attention to internal conditions for some time, even months after the determination of the new BI benchmark interest rate increase.

"Yesterday, Mr. Jahja (President Director of BCA) may have said that when (there was) an increase in interest rates, (BCA) did not immediately (increase interest rates) like that. Of course, right, not directly, banks can also adjust," said Hera.

"So, there needs time. We absorb (absorb) first, then we will follow the trend of interest rates," he added.