Indonesia Central Bank reports and economic performance data

Indonesia Central Bank Extends Swap with Japan, Continues Property Financing Incentives

Oct 17, 2024, 02:31 AM

Indonesia's central bank has announced several key measures amid rising global financial market uncertainties due to geopolitical tensions. The bank will extend its bilateral swap arrangement with the Bank of Japan and continue providing incentives for property financing until the end of 2025. Additionally, the central bank expects two more rate cuts by the US Federal Reserve this year, each by 25 basis points, and anticipates further cuts next year. The current account deficit for 2025 is projected to be relatively low, between 0.5% and 1.1% of GDP. The bank is finalizing a new liquidity incentive to be implemented from January 1, 2025, targeting sectors such as agriculture, manufacturing, and trading that create jobs.