BI Maintains Interest Rate, Big Banks' Shares Show Mixed Reaction

Market Reaction to Monetary Policy Decision

Bank Indonesia's decision to maintain the BI rate at 4.75% had a relatively neutral impact on the stock performance of major banks. Initially, these stocks showed gains during the first session, but most ended lower by the close of trading on Thursday, November 20, 2025.

Stock Performance of Major Banks

The stock performance of major banks was mixed. PT Bank Central Asia Tbk (BBCA) saw its shares decline by 0.59% to Rp 8,425. Similarly, PT Bank Rakyat Indonesia (Persero) Tbk (BBRI) experienced a decrease of 0.25%, closing at Rp 3,990. In contrast, PT Bank Mandiri (Persero) Tbk (BMRI) was the sole gainer among the major banks, with its shares rising by 1.86% to Rp 4,940. Meanwhile, PT Bank Negara Indonesia (Persero) Tbk (BBNI) maintained stability, with its shares remaining at Rp 4,460.

Market Analysis

The mixed reaction in the banking stocks reflects the market's nuanced response to BI's monetary policy decision. The maintenance of the BI rate at 4.75% indicates a stable monetary stance, which generally supports economic growth while keeping inflation in check. However, the overall negative movement in most major bank stocks suggests that other market factors may have overshadowed the positive sentiment from the BI rate decision.