Indonesian Employers’ Association (Apindo) economic policy analyst Ajib Hamdani is of the opinion that the benchmark interest rate or BI Rate, which is once more maintained at 6.25% in July 2024, can maintain people’s purchasing power.
According to him, Bank Indonesia’s decision to maintain the benchmark interest rate level can provide certainty in the business world amidst uncertain global conditions.
This will also help stabilize the cost of goods sold (HPP) and from the demand side it will also be maintained. “The impact is that people’s purchasing power is maintained,” he told Media Indonesia, Wednesday (17/7).
In addition, Ajib said that not increasing the benchmark interest rate might maintain interest in credit distribution. From BI’s records, credit growth in the second quarter of 2024 remained high at 12.36% year on year (yoy) driven by strong supply and demand.
“With the fixed interest rate of Bank Indonesia Certificates (SBI), the credit interest rate also tends to remain. This is quite positive for business actors,” he said.
In the future, Apindo hopes the government can create the monetary intervention needed to maintain the stability of economic growth. (Z-2)
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