Government Measures to Mitigate Covid-19 Risk
Bank Indonesia Policy Mix: February 2021
B BANK INDONESIA
BANK SENTRAL REPUBLIK INDONESIA
The BI Board of Governors agreed 17th and 18th February 2021 to lower the BI 7-day Reverse Repo Rate by 25 bps to
3.50%, Deposit Facility (DF) rate by 25 bps to 2.75% and Lending Facility (LF) rate by 25 bps to 4.25%.
%
Rp
Lower
Strengthening
Publishing the
"Assessment of
Policy
Rate
Transmission to
Prime Lending
Rates
Banking
in the
Maintaining
rupiah
Relaxing down
payment
exchange
rate
requirements
stabilisation
on automotive
loans/financin
policy in line
Industry"
to
with
g
and
accelerate
the
Relaxing
the
currency's
LTV/FTV ratio
monetary policy
transmission and
expand
the
BI7DRR to
3.50%
support
the monetary
operations
to
national
economic
recovery
strategy to
reinforce the
accommoda-
tive monetary
policy stance;
fundamental
value and
market
mechanisms;
on housing
loans/financin
g
dissemination of
information
to
corporate and
individual
consumers.
.
•
Facilitating trade and investment promotion for
productive sectors and tourism as well as socialising
the use of local currency settlement (LCS)
domestically and internationally in conjunction with
other relevant institutions and stakeholders.
Supporting development of an inclusive and efficient
digital economy and finance ecosystem, specifically
targeting SMEs, to drive the economic recovery by;
Extending the QRIS 0% merchant discount rate
(MDR) for micro enterprises until 31st Dec 2021;
12
Expanding QRIS acceptance
million
merchants in collaboration with payment system
service providers as well as the central and local
government;
•
to
Encouraging collaboration between e-commerce,
SMEs and the Government to strengthen the
competitiveness of domestic SME products for the
domestic and export markets.
Source: Bank Indonesia
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