TheJakartaPost
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According to preliminary data from Bank Indonesia (BI) published on Wednesday, the retail sales index (RSI) was projected to have climbed to 222.1 in November, marking a solid 5.9 percent year-on-year (yoy) increase from 209.7 in November 2024.
Disappointing data on bank lending raises questions about the effectiveness of the Finance Ministry’s Rp 200 trillion (US$12 billion) liquidity injection conducted in early September to jump-start economic activity, with economists pointing to a lack of credit demand.
Bank Indonesia (BI) has kept its benchmark interest rate unchanged for a second month after recently decreasing it by 25 basis points (bps) in each of three consecutive meetings. The central bank has revised up its gross domestic product projection for the year.
