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Retail Asia02/01/2019

Indonesia’s December annual inflation rate eased, but the pace was quicker than expected, data from the Central Statistics Agency, or BPS, showed on Wednesday. The annual inflation rate in December was 3.13 percent, the agency said, lower than November’s 3.23 percent, but quicker than the median forecast of 2.98 percent. The December rate was well […]

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Retail Asia27/09/2018

Bank Indonesia, the country central bank, needs to raise its benchmark interest rate on Thursday (25/09) or risks to be left behind the curve and sees a further weakening of the rupiah, economists said. “Bank Indonesia must be ahead of the curve amid the trend of rising global interest rates,” said Cyrillus Harinowo, a former central banker and now […]

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Retail Asia24/09/2018

The value of the rupiah has stabilized in recent days as the domestic supply of dollars has increased due to inflows from returning investors and more exporters converting their earnings, Bank Indonesia Governor Perry Warjiyo said on Friday (21/09). “The rupiah has stabilized and it tends to strengthen,” Perry said. “Many fund managers have begun […]

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Retail Asia01/06/2018

Indonesia’s central bank raised its benchmark interest rate for the second time in two weeks on Wednesday (30/05) and flagged more possible hikes as it escalated a battle to boost the fragile rupiah and contain capital outflows. Newly appointed Bank Indonesia Governor Perry Warjiyo pledged more action to promote financial and economic stability to bolster […]

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Retail Asia23/05/2018

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Bank Indonesia will conduct three foreign-exchange swap auctions this week to ensure there is enough rupiah liquidity in the market following its benchmark interest rate hike, a senior official at the central bank said on Monday. Bank Indonesia raised its key rate, the seven-day reverse repo rate, by 25 basis points to 4.50 percent on Thursday last week […]

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Retail Asia05/07/2017

Bank Indonesia (BI), Indonesias central bank, will issue a regulation related to the issuance of commercial paper (CP) within two weeks or by the end of July 2017. This is following the need by various non-bank corporations to publish the paper as short-term funding for working capital. The Head of BIs Finance Market Development Department, […]

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Retail Asia23/06/2017

Bank Indonesia has set National Standard Indonesian Chip Card Specification (NSICCS) as the country’s technology benchmark for ATMs and debit cards of all card providers across the country. The regulation was officially implemented during a meeting attended by Bank Indonesia deputy governor Sugeng, bankers and the Indonesia Payment Systems Association (ASPI) on Wednesday in Jakarta. […]

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Retail Asia13/06/2017

The central bank of Indonesia, Bank Indonesia (BI), has launched a Strategic Food Price Center website (PIHPS) application which will serve as a reference of pricing information to help those in charge of making policy on inflation management. BIs Governor Agus Martowardojo said, at the PIHPS launch here on Monday, that data collection was one […]

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Retail Asia01/06/2017

Bank Indonesia (BI) is seeking to integrate electronic payment system of various banks and issuers on toll roads during the Eid al-Fitr homecoming in June. BI Transformation Center Executive Director Onny Widjanarko said that the central bank has done the trial on the electronic payment integration on the toll road between Surabaya and Sidoarjo. The […]

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Retail Asia03/04/2017

Bank Indonesia (BI) reported that lending grew 8.4 percent year on year (YoY) to Rp4,333 trillion in February 2017, or an increase compared to January 2017 at 8.2 percent YoY. Working capital loans (KMK) and investment loans grew by 11.8 percent YoY and 9.7 percent YoY, respectively, BI spokesman Tirta Segara stated in a written statement […]

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Retail Asia08/03/2017

Bank Indonesia Governor Agus Martowardojo said the central bank is preparing for the impact of Fed Fund Rate (FFR) hike in March. Agus said there were clear signs of a US’ interest rates increase during The Federal Reserves’ monthly meeting in February. “The probability is 90 percent, that’s why all market participants are getting ready,” […]

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Retail Asia31/01/2017

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Bank Indonesia (BI) has warned unlicensed non-bank money changers to apply for a license during the ongoing transition period as a requirement to operate legally. The central bank has imposed the transition period since Oct. 6 last year when it issued a regulation and circular concerning the licensing requirement. The unlicensed money changers were given […]

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Retail Asia16/01/2017

Bank Indonesia (BI) had forecast that the countrys current account deficit last year would fall to 1.8 percent of the national gross domestic product (GDP) as compared to 2.06 percent a year earlier. The decline in the current account deficit would chiefly be the result of steady trade surplus, BI Deputy Governor Perry Warjiyo stated […]

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Retail Asia19/12/2016

Bank Indonesia released on Monday seven new banknotes and four coins bearing the pictures of 12 national heroes. The launch of the new notes and coins was attended by President Joko “Jokowi” Widodo and Bank Indonesia governor Agus Martowardojo in Jakarta, Antara news agency reported. The new notes are the Rp100,000, Rp50,000, Rp20,000, Rp10,000, Rp5,000, […]

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Retail Asia16/11/2016

Bank Indonesias governor Agus Martowardojo has launched the Financial Technology (Fintech) Office that will serve as a think-tank in developing the financial services industry. “Technology innovation in financial sector is now a must. Therefore, innovation must be a continuous process,” Agus said in his speech while opening the Fintech Office here on Monday. He explained […]

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Retail Asia23/10/2016

Indonesia’s central bank surprised the market on Thursday by cutting its benchmark interest for a sixth time this year, renewing efforts to spur sluggish lending and growth. Bank Indonesia (BI) cut the 7-day reverse repurchase rate by 25 basis points to 4.75 per cent. “In the midst of a weak global economy, we believe this […]

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Retail Asia01/09/2016

Bank Indonesia (BI) Governor Agus Martowardojo said the central bank still likely has a chance to relax its monetary policy in the second half of this year. “Seeing the condition in August, we can say that there is still a chance to slacken monetary policy but whether it will be carried out next September or […]

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Retail Asia22/06/2016

Indonesia’s central bank cut its benchmark interest rate again by a quarter point to 6.50 per cent Thursday amid slow and uneven recovery of the global economy.Bank Indonesia spokesman Tirta Segara said the cut, the fourth this year, was decided at a two-day meeting of the Board of Governors.The key interest rate was lowered in […]

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Retail Asia08/06/2016

Bank Indonesia will reduce the minimum limit of fund transfer through the instrument of “Real Time Gross Settlement” (RTGS) to Rp100 million from Rp500 million at present. The new limit would be effective as from July 1, a Central Banks Executive Director Bramudija Hadinoto said on Monday, June 7, 2016. The reason for the cut […]

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Retail Asia01/06/2016

Following a lacklustre trading year, Indonesian retailers are starting to find their sales figures turning around. Electronics, automotive parts and clothes have all seen an uptick in demand, reports The Jakarta Post. Ramayana Lestari Sentosa, which runs department stores for low- to middle-income consumers, has targeted its sale to grow by 7 per cent this […]

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