Jakarta, CNBC Indonesia – The Expert Board of the Indonesian Listed Companies Association (AEI), Gunawan Tjokro, asked the banking industry to immediately accelerate the reduction in loan interest rates. This is so that the company can obtain financing at a lower interest rate so that it can be competitive.
Gunawan, who also serves as the Chairman of APINDO for the Capital Market Sector, complained that currently the average bank loan interest rate is still quite high, ranging from 9-10%, almost three times the deposit interest rate.
According to him, the bank’s policy to immediately accelerate the reduction in credit interest could be done considering that Bank Indonesia had lowered the BI 7 Days Reverse Repo Rate (BI7DRR) by 25 basis points to 3.75% from 4% previously at the November Board of Governors (RDG) Meeting. to accelerate the domestic economy.
“For us to be able to play actively from the supply chain side, there must be several things, one of which is competitive bank interest, [beda selisih] 1% -2% here and there will sharpen our position to be more competitive, “said Gunawan, in the Economic Outlook 2021 forum: The stretching of the Banking Industry in 2021 virtually, Wednesday (25/11/2020).
Thus, with this decrease, the loan interest rate is expected to be lower than the current level. “Currently, bank loan interest rates are generally in the range of 9-10 percent, almost three times the deposit rate,” he explained.
BI Governor Perry Warjiyo also previously conveyed the direction for lowering credit interest rates when lowering interest rates by 25 basis points this November. With this decision, BI has cut interest rates five times this year totaling 1.25% or 125 bps.
“This decision takes into account the predicted low inflation, maintained external stability and recovery measures for national economists,” said Perry Warjiyo, Governor of BI, at a press conference after the RDG.
He also asked banks to immediately lower their loan interest to encourage domestic economic recovery.
“Through this forum, we continue to ask banks to lower credit interest rates so that they can promote economic recovery,” he said during a virtual press conference on Thursday (19/11/2020).
Tit for tat, the meeting of the Board of Commissioners of the LPS yesterday also decided to lower the guarantee interest rate for commercial banks in Rupiah and BPR by 50 basis points. Meanwhile, the guarantee interest rate in foreign currency was reduced by 25 basis points.
Thus, the current guarantee interest rate at commercial banks is 4.50% from the previous 5%. Meanwhile, the guarantee interest rate in foreign currency is 1% and BPR is 7%. This policy is in effect from 25 November 2020 to 29 January 2021.
(hps / hps)
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