Latest news with #SolikinM.Juhro
Yahoo
27-05-2025
- Business
- Yahoo
Indonesia to cut secondary reserve requirement for banks to 4%
The Indonesian central bank, Bank Indonesia (BI), is considering a reduction in the secondary reserve requirement for banks from 5% to 4%, effective from June. This policy adjustment is set to free up Rp78.45tn ($4.84bn) in additional liquidity for the banking sector, reported Reuters. The statement was made by Solikin M. Juhro, BI's head of macroprudential policy, during a press conference. The decision to cut the reserve requirement comes after the central bank's third-interest rate reduction since September. BI is also raising the limit on foreign funding for local banks to 35% of their capital, up from 30% to enhance liquidity and loan growth. This move was confirmed by BI last week and that it would adjust the sharia Profit and Loss Sharing (PLM) by 100 basis points from 3.5% to 2.5% for sharia commercial banks, with repo flexibility of 2.5%, to be implemented from 1st June 2025. The central bank has also reiterated its strategy to stabilising the rupiah through interventions in both offshore and domestic foreign exchange markets, and by purchasing government securities in the secondary market. Furthermore, the bank also emphasised its strategies for term-repo and forex swap transactions to secure liquidity in the money market and banking industry. It was confirmed to reduce the BI-Rate to 5.50% and deposit facility (DF) rate to 4.75% and the lending facility (LF) rate to 6.25%, all by 25bps. "Indonesia to cut secondary reserve requirement for banks to 4% " was originally created and published by Retail Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Recorder
26-05-2025
- Business
- Business Recorder
Indonesia central bank to give nearly $5 billion flexibility to banks to manage liquidity
JAKARTA: The Indonesian central bank's policy to cut a secondary reserve requirement to 4% from 5% starting from June will provide banks with 78.45 trillion rupiah ($4.84 billion) of liquidity they can manage more flexibly, a senior official said on Monday. The comments were made by Solikin M. Juhro, Bank Indonesia's head of macroprudential policy, at a press conference. The central bank announced the planned reduction last week, when it also delivered its third interest rate cut since September, intended to bolster growth in Southeast Asia's biggest economy. Indonesia central bank cuts rates, as expected BI has also announced it would increase the maximum level of foreign funding local banks can take, to 35% of their capital from 30%, starting from June, a policy also meant to increase liquidity and support loan growth, Solikin said.
Bloomberg
26-03-2025
- Business
- Bloomberg
Indonesia ‘Far From' 1998 Crisis Despite Rupiah Slump, Central Bank Says
Indonesia's central bank defended the nation's economic fundamentals as solid after the rupiah this week fell to the weakest since the Asian financial crisis in 1998, when the country needed an international bailout. 'The current condition is still far from that of the 1998 crisis,' Solikin M. Juhro, head of Bank Indonesia's macroprudential policy department, told reporters in Jakarta on Wednesday. 'The situation now is completely different and we are not at all as vulnerable as we used to be.'
Zawya
26-03-2025
- Business
- Zawya
Bank Indonesia says ready to stabilise rupiah, which is near 27-year low
The Indonesian central bank said it is ready to intervene to stabilise the rupiah, which on Wednesday stayed close to its lowest levels since 1998 even as officials said market sentiment was positive and economic fundamentals were resilient. There was positive sentiment in domestic stocks, bonds and the foreign exchange market, said Fitra Jusdiman, Bank Indonesia's director of monetary and securities asset management. He would not comment on whether the central bank had intervened on Wednesday, but said BI always monitored the market and was ready to step in to support the rupiah. On Tuesday, the rupiah weakened past 16,600 per dollar to hit its lowest levels since the Asian financial crisis in 1998. The rupiah was trading at 16,585 per dollar as of 0738 GMT on Wednesday, LSEG data showed. The economy remains fundamentally resilient, Solikin M. Juhro, BI's head of macroprudential policy, told reporters, citing economic growth of around 5%, low inflation and manageable foreign loans. "Fundamentally, we remain well," he said, adding Indonesia is "totally different" and more resilient now than it was in 1998 during the Asian Financial Crisis. Chief economic minister Airlangga Hartarto separately told reporters the country's economic fundamentals remain strong despite the rupiah's drop. (Reporting by Stefanno Sulaiman; Editing by John Mair)
Reuters
26-03-2025
- Business
- Reuters
Bank Indonesia says ready to stabilise rupiah, which is near 27-year low
JAKARTA, March 26 (Reuters) - The Indonesian central bank said it is ready to intervene to stabilise the rupiah, which on Wednesday stayed close to its lowest levels since 1998 even as officials said market sentiment was positive and economic fundamentals were resilient. There was positive sentiment in domestic stocks, bonds and the foreign exchange market, said Fitra Jusdiman, Bank Indonesia's director of monetary and securities asset management. He would not comment on whether the central bank had intervened on Wednesday, but said BI always monitored the market and was ready to step in to support the rupiah. On Tuesday, the rupiah weakened past 16,600 per dollar to hit its lowest levels since the Asian financial crisis in 1998. The rupiah was trading at 16,585 per dollar as of 0738 GMT on Wednesday, LSEG data showed. The economy remains fundamentally resilient, Solikin M. Juhro, BI's head of macroprudential policy, told reporters, citing economic growth of around 5%, low inflation and manageable foreign loans. "Fundamentally, we remain well," he said, adding Indonesia is "totally different" and more resilient now than it was in 1998 during the Asian Financial Crisis. Chief economic minister Airlangga Hartarto separately told reporters the country's economic fundamentals remain strong despite the rupiah's drop.
