Bank Indonesia said the bank’s liquidity was adequate.
Armfalcon.com, JAKARTA — Bank Indonesia ensures adequate liquidity and economy. The Governor of Bank Indonesia Perry Warjiyo said this had a positive contribution in encouraging increased credit or financing and supporting economic growth.
“The indicator for the ratio of liquid assets to third party funds (DPK) was recorded as high, namely 28.91 percent in March 2023,” Perry said at a press conference for BI Monthly RDG April 2023, Tuesday (18/4/2023).
Perry ensured adequate economic liquidity. This was reflected in the money supply in the narrow and broad sense in March 2023 which grew by 4.8 percent and 6.2 percent on an annual basis, respectively.
“Adequate liquidity in turn supports the availability of funds for banks to channel credit or finance for the business world and directs banking interest rates that are conducive to supporting economic growth,” explained Perry.
On the money market, Perry revealed, IndONIA’s interest rate remained low at 5.65 percent on April 17, 2023. Yields on short-term tenor SBN were also recorded at 6.24 percent, down 20 bps compared to February 2023 levels.
Meanwhile, yields on long-term tenor SBN are under control. Perry said that the one-month deposit rate in March 2023 was also recorded as low at 4.10 percent, down two bps compared to February 2023.
“The March 2023 credit interest rate is also conducive to supporting credit demand, which is 9.38 percent, an increase of four bps compared to the previous month’s level,” said Perry.
He emphasized that Bank Indonesia will continue to ensure sufficient liquidity to maintain financial system stability. In addition, it also encourages the continued increase in credit or financing for national economic recovery.
There are many advantages of saving in Islamic banks. Take a peek, which Islamic bank are you a customer of?