JAKARTA - Bank Indonesia (BI) Governor Perry Warjiyo said he had purchased Government Securities (SBN) of Rp144.90 trillion until July 15, 2025.
Purchase of Government Securities, explained Perry, through the secondary market amounting to IDR 102.58 trillion and the primary market in the form of State Treasury Letters (SPN), including sharia, amounting to IDR 42.32 trillion.
"In the future, BI will continue to optimize the pro-market monetary operation strategy to maintain liquidity adequacy and increase the effectiveness of monetary policy transmission in achieving inflation targets and maintaining the stability of the Rupiah exchange rate," he said at a press conference, Wednesday, July 16.
Perry said that the purchase of SBN from the secondary market to strengthen the expansion of monetary policy liquidity, as well as reflect the close synergy between monetary policy and government fiscal policy.
Therefore, he conveyed that the pro-market monetary operations strategy will also continue to be optimized to support liquidity adequacy in the money and banking markets.
Perry said that until July 14, 2025, the total position of the SRBI instrument was recorded at Rp782.62 trillion, a decrease from Rp923.53 trillion in early January 2025, thus supporting the expansion of monetary policy liquidity.
Meanwhile, the positions of SVBI and SUVBI instruments in the same period were recorded at US$3.53 billion and US$491 million, respectively.
He conveyed that the implementation of major dealers (primary dealers) since May 2024 has also further increased SRBI transactions in the secondary market and repurchase agreement (repo) between market participants.
Meanwhile, he said that BI continues to strengthen the response to monetary policy to maintain stability and contribute to economic growth.
Perry said that the monetary operation strategy continues to be optimized to strengthen the effectiveness of the transmission of interest rate reductions.
In the money market, in line with the decline in the BI-Rate in May 2025 and BI's monetary operation, the INDONESIAN interest rate continued to decline to 5.14 percent on July 15, 2025, from before the announcement of a 5.77 percent decline in the BI-Rate in May.
The SRBI interest rate for tenors 6, 9, and 12 months also decreased from 6.40 percent, 6.44 percent, and 6.47 percent, respectively, before the BI-Rate decline in May 2025 to 5.85 percent; 5.86 percent; and 5.87 percent on July 11, 2025.
Meanwhile, the SBN yield for the 2-year tenor decreased from 6.13 percent to 5.86 percent, while for a 10-year tenor it decreased from 6.71 percent to 6.56 percent.
However, he said the 1-month deposit rate increased, from 4.81 percent in May 2025 to 4.85 percent in June 2025, in line with the bank's competition for funding.
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Bank credit interest rates are also still high, which is 9.16 percent in June 2025, not much different from 9.18 percent in May 2025.
In the future, Perry said, BI views that bank credit interest rates need to continue to decline so that they can encourage increased lending/financing to support economic growth.
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