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Thursday, February 10, 2011

Deposit Insurance Interest Rate Set at 7.25 %

VIVAnews - The Board of Commissioners of Indonesia Deposit Insurance Agency (LPS) sets interest rate at 7.25 percent.

Meanwhile, foreign exchange rate is set at 2.75 percent while the rural credit bank Bank Perkreditan Rakyat (BPR) sets rate at 10.25 percent.

LPS Executive Head Firdaus Djaelani said the normal interest rates are settled due to the stable rupiah exchange rate against US dollar and rise in bank savings. The rates are also increased as anticipation over the year-on-year inflation rate in January 2011 of 7.02 percent.

"However, the estimated inflation rate in February and March 2011 tends to be tilted," said Firdaus today in Jakarta.

According to him, the interest rate for BPR is maintained at 10.25 percent.

Earlier, after retaining the benchmark interest rate BI Rate for 18 times at 6.5 percent, Bank Indonesia last week rose BI Rate by 25 basis points to 6.75 percent.

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