BI Lowers its Rate to 8.25 Percent
The Jakarta Post , Jakarta | Wed, 02/04/2009 | Business
Bank Indonesia lowered its rate by 50 basis points to 8.25 percent due to worsening global economy crisis, tempointeraktif.com reports.
BI governor Boediono said on Wednesday that the BI had lowered its rates after a series of evaluation on local and global economy and financial development.
“Some indicators show that the global meltdown has given greater bad impacts than we predicted few months ago,” he said.
He said that the impacts of the crisis had been deeply experienced by tradable sector, while non-tradable sector had been performing well.
“Pressures on inflation keep on decreasing as shown in the consumers indexes in the past two months,” he said.
Meanwhile, he added, national finance was in good condition thanks to enough capital adequacy ratio (CAR) and safe limits for non-performing loan (NPL).
He said that the government would take necessary steps to strengthen financial sector in terms of banking liquidity management and controlling system. (ewd)
BI governor Boediono said on Wednesday that the BI had lowered its rates after a series of evaluation on local and global economy and financial development.
“Some indicators show that the global meltdown has given greater bad impacts than we predicted few months ago,” he said.
He said that the impacts of the crisis had been deeply experienced by tradable sector, while non-tradable sector had been performing well.
“Pressures on inflation keep on decreasing as shown in the consumers indexes in the past two months,” he said.
Meanwhile, he added, national finance was in good condition thanks to enough capital adequacy ratio (CAR) and safe limits for non-performing loan (NPL).
He said that the government would take necessary steps to strengthen financial sector in terms of banking liquidity management and controlling system. (ewd)
