JAKARTA – Bank Indonesia (BI) has decided to keep its benchmark interest rate steady at 5.75%, even as central banks in several other countries have begun cutting rates.

This marks the fourth consecutive month the rate has remained unchanged since January 2025.

BI Governor Perry Warjiyo stated that the decision aligns with the central bank’s strategy to maintain rupiah stability amid rising global uncertainty. “As well as to sustain economic growth,” Perry said during a press conference following the BI Board of Governors Meeting (RDG) on Wednesday (23/4).

Looking ahead, Perry added that BI would continue to monitor the potential for further reductions in the BI Rate, taking into account various factors, including the rupiah’s exchange rate and inflation outlook.

BI also maintained the deposit facility rate at 5%, while the lending facility rate remains at 6.50%.

According to data from IDNFinancials.com, the European Central Bank (ECB) has reduced its main refinancing operation rate to 2.4% from 2.65%. India's Monetary Policy Committee (MPC) has lowered its benchmark rate to 6%, from 6.25%.

Meanwhile, Mexico has cut its key interest rate to 9%, down from 9.5%. (KR/ZH)