In the context of subdued inflation and a sagging global economy, Bank Indonesia lowered its policy interest rate by 25 basis points to 5.75%
in February 2012 and reduced its overnight deposit facilit...
y rate by 25 basis
points to 3.75%. Although the central bank later reversed the cut in the
overnight deposit rate to drain excess liquidity, it maintained the policy.rate at 5.75%. A requirement since March 2011 that banks disclose base lending rates to the public helped to bring down lending interest rates in 2012 (Figure 3.24.8). Growth in credit remained high at 23.1%, with loans
for investment up by just over 27% (Figure 3.24.9).
Refers to rupiah credit.
Sources: Asian Development Outlook
database; CEIC Data Company (accessed 21 March 2013) - Asian Development Outlook database; http://www.adb.org/sites/default/files/ado2013-indonesia.pdf
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