Investor Presentaiton
Bank Indonesia's Policy Mix Direction in 2023
Maintaining Stability, Accelerating Economic Recovery
Monetary policy towards maintaining stability
Policy rate increase as a follow-up step to ensure continued lower expected inflation and inflation in a front-loaded, pre-emptive, and forward-
looking measure to maintain core inflation within the range of 3.0±1%
Strengthening rupiah stabilization policy as part of measures to control inflation, primarily imported inflation
Issuing new foreign exchange monetary operation instruments to boost placement of Export Proceeds, domestically by banks and exporters to
strengthen stabilization, including Rupiah exchange rate stability and national economic recovery
• Continue buying/selling SBN in the secondary market to strengthen transmission of the BI7DRR by increasing the attractiveness of SBN yields for
foreign portfolio investment inflows to strengthen exchange rate stabilization measures
B BANK INDONESIA
BANK SENTRAL REPUBLIK INDONESIA
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Accommodative macroprudential policy stance to reignite bank lending to the corporate sector and drive the national economic recovery, while
maintaining financial system stability
Incentivize banks to disburse financing to priority sectors and promote inclusive financing
Strengthen implementation of macroprudential Inclusive Financing Ratio (RPIM) to increase economic inclusion, unlock financial access, while
strengthening MSME's contribution to the national economic recovery
Accommodative macroprudential policy stance, among others by: relaxing LTV/FTV, relaxing down payment requirement, CCB 0%, Macroprudential
Intermediation Ratio (MIR) 84-94%, Macroprudential Liquidity Buffer (MLB) at 6% with 6% repo flexibility, Sharia Macroprudential Liquidity Buffer
(SMLB) at 4.5% with repo flexibility at 4.5%
■Accelerating payment system digitalization to stimulate economic recovery and implementation of the
Indonesia Payment System Blueprint 2025
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Strengthen and expand digitalization through social programs, e-payment for Government
Increase the number of participants, expand services and garner greater acceptance of BI-FAST for more
efficient transactions between banks and members of the public
Expanding cross-border QRIS by, among others, accelerating implementation, piloting local currency settlement
(LCS) with other Asian countries and organising National QRIS Week
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Money market deepening by expanding underlying DNDF to boost liquidity and reinforce JISDOR as a reference for the exchange
rate in the FX market
Accelerate key infrastructure development, including Electronic Trading Platforms (ETP) and a Central Counterparty (CCP)
Continue to develop the Money Market Development Blueprint 2025
Promote inclusiveness and the green economy in finance
■Controlling inflation through Inflation Control Team in national and regional level, and accelerating implementation of the National Movement for Food
Inflation Control (GNPIP)
■Support the national economic recovery program through cooperation and collaboration with the MOF
Strengthening the coordination with the Government and related authorities to revive bank intermediation function
■Strengthening policy coordination with the Government and Financial System Stability Committee to maintain macroeconomic and financial system stability
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Source: Bank Indonesia
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