Bank Indonesia Maintains BI Rate at 4.75% Amid Global Uncertainty

Monetary Policy Decision

Bank Indonesia decided to maintain its benchmark interest rate, BI Rate, at 4.75% during its November 2025 monetary policy meeting ¹

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Source 3

https://finance.detik.com/moneter/d-8218305/bi-tahan-bunga-acuan-4-75

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Source 4

https://finansial.bisnis.com/read/20251119/90/1930119/saham-bbca-bbni-bbri-bmri-kompak-naik-saat-bi-kembali-tahan-suku-bunga

. This decision comes as the central bank continues to navigate through global economic uncertainties while maintaining inflation within the target range of 2.5±1% ¹

Source 1

https://investasi.kontan.co.id/news/menakar-arah-ihsg-usai-bi-tahan-suku-bunga-acuan-dan-saham-rekomendasi-analis

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Economic Rationale

The decision to keep the rate unchanged was influenced by several factors, including global economic conditions that remain uncertain due to factors such as the US government shutdown and inflationary pressures in major economies ¹

. Despite these challenges, Indonesia's inflation outlook for 2025 and 2026 remains favorable, staying within the target range ³

Source 3

https://finance.detik.com/moneter/d-8218305/bi-tahan-bunga-acuan-4-75

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Market Reaction

The decision had an immediate impact on the Indonesian stock market. Major banking stocks showed mixed reactions: PT Bank Central Asia Tbk (BBCA), PT Bank Mandiri (Persero) Tbk (BMRI), PT Bank Rakyat Indonesia (Persero) Tbk (BBRI), and PT Bank Negara Indonesia (Persero) Tbk (BBNI) generally saw their stock prices rise ²

. In contrast, PT Bank Syariah Indonesia Tbk (BRIS) and PT Bank Tabungan Negara (Persero) Tbk (BBTN) experienced declines ²

Source 2

https://finansial.bisnis.com/read/20251119/11/1930110/tahan-suku-bunga-di-475-bi-was-was-ketidakpastian-global

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Future Outlook

Governor Perry Warjiyo emphasized that while the current rate stance remains accommodative, future rate decisions will be data-dependent ¹

. The central bank is prepared to adjust its policy stance as needed based on evolving economic conditions, both domestically and globally.