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or ay k th th th th th s · 8 l 7 2 9 e 5 2 on 1 n ) ) 2 s ) ) 3 t ) )) on ) 1 s 6 8 2 s 2 2 3 s 8 2 4 s 1 1 on 1 l) ) 2 l) ) on | 13 | 14 | 15 1 Credit growth of 8.0% (yoy) in May

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Page 1: or ay k th th th th th s · 8 l 7 2 9 e 5 2 on 1 n ) ) 2 s ) ) 3 t ) )) on ) 1 s 6 8 2 s 2 2 3 s 8 2 4 s 1 1 on 1 l) ) 2 l) ) on | 13 | 14 | 15 1 Credit growth of 8.0% (yoy) in May

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Page 2: or ay k th th th th th s · 8 l 7 2 9 e 5 2 on 1 n ) ) 2 s ) ) 3 t ) )) on ) 1 s 6 8 2 s 2 2 3 s 8 2 4 s 1 1 on 1 l) ) 2 l) ) on | 13 | 14 | 15 1 Credit growth of 8.0% (yoy) in May

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Tenor 7 day 2 week 1 month 3 month 6 month 9 month 12 month

Term Structure of Monetary Operations

5.25% 5.45% 5.70% 6.10% 6.30% 6.40% 6.50%

TINJAUAN KEBIJAKAN MONETER MONETARY POLICY REVIEW

1

Page 3: or ay k th th th th th s · 8 l 7 2 9 e 5 2 on 1 n ) ) 2 s ) ) 3 t ) )) on ) 1 s 6 8 2 s 2 2 3 s 8 2 4 s 1 1 on 1 l) ) 2 l) ) on | 13 | 14 | 15 1 Credit growth of 8.0% (yoy) in May

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Page 4: or ay k th th th th th s · 8 l 7 2 9 e 5 2 on 1 n ) ) 2 s ) ) 3 t ) )) on ) 1 s 6 8 2 s 2 2 3 s 8 2 4 s 1 1 on 1 l) ) 2 l) ) on | 13 | 14 | 15 1 Credit growth of 8.0% (yoy) in May

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Page 5: or ay k th th th th th s · 8 l 7 2 9 e 5 2 on 1 n ) ) 2 s ) ) 3 t ) )) on ) 1 s 6 8 2 s 2 2 3 s 8 2 4 s 1 1 on 1 l) ) 2 l) ) on | 13 | 14 | 15 1 Credit growth of 8.0% (yoy) in May

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2

Page 6: or ay k th th th th th s · 8 l 7 2 9 e 5 2 on 1 n ) ) 2 s ) ) 3 t ) )) on ) 1 s 6 8 2 s 2 2 3 s 8 2 4 s 1 1 on 1 l) ) 2 l) ) on | 13 | 14 | 15 1 Credit growth of 8.0% (yoy) in May

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Page 7: or ay k th th th th th s · 8 l 7 2 9 e 5 2 on 1 n ) ) 2 s ) ) 3 t ) )) on ) 1 s 6 8 2 s 2 2 3 s 8 2 4 s 1 1 on 1 l) ) 2 l) ) on | 13 | 14 | 15 1 Credit growth of 8.0% (yoy) in May

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Page 8: or ay k th th th th th s · 8 l 7 2 9 e 5 2 on 1 n ) ) 2 s ) ) 3 t ) )) on ) 1 s 6 8 2 s 2 2 3 s 8 2 4 s 1 1 on 1 l) ) 2 l) ) on | 13 | 14 | 15 1 Credit growth of 8.0% (yoy) in May

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Page 9: or ay k th th th th th s · 8 l 7 2 9 e 5 2 on 1 n ) ) 2 s ) ) 3 t ) )) on ) 1 s 6 8 2 s 2 2 3 s 8 2 4 s 1 1 on 1 l) ) 2 l) ) on | 13 | 14 | 15 1 Credit growth of 8.0% (yoy) in May

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Page 10: or ay k th th th th th s · 8 l 7 2 9 e 5 2 on 1 n ) ) 2 s ) ) 3 t ) )) on ) 1 s 6 8 2 s 2 2 3 s 8 2 4 s 1 1 on 1 l) ) 2 l) ) on | 13 | 14 | 15 1 Credit growth of 8.0% (yoy) in May

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Page 11: or ay k th th th th th s · 8 l 7 2 9 e 5 2 on 1 n ) ) 2 s ) ) 3 t ) )) on ) 1 s 6 8 2 s 2 2 3 s 8 2 4 s 1 1 on 1 l) ) 2 l) ) on | 13 | 14 | 15 1 Credit growth of 8.0% (yoy) in May

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No. Core (%,mtm)Contribution

(%,mtm)

Inflation

1 Sugar 6.40 0.04

2 Jewellery 2.04 0.02

3 Construction worker foreman 0.55 0.01

4 Rice with side dish 0.40 0.01

Page 12: or ay k th th th th th s · 8 l 7 2 9 e 5 2 on 1 n ) ) 2 s ) ) 3 t ) )) on ) 1 s 6 8 2 s 2 2 3 s 8 2 4 s 1 1 on 1 l) ) 2 l) ) on | 13 | 14 | 15 1 Credit growth of 8.0% (yoy) in May

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No. Volatile Food (%,mtm)Contribution

(%,mtm)

Inflation

1 Purebred chicken meat 5.28 0.07

2 Fresh fish 2.10 0.06

3 Purebred chicken eggs 6.09 0.04

4 Potatoes 18.11 0.03

5 Carrot 27.47 0.03

6 Rice 0.50 0.02

7 Spinach 8.70 0.02

8 Apel 5.67 0.02

9 Orange 3.05 0.02

Deflation

1 Red onion (9.47) (0.07)

2 Tomatoes (4.65) (0.01)

3 Tomato fruit (11.77) (0.01)

No. Administered Prices (%,mtm)Contribution

(%,mtm)

1 Air transport fares 9.56 0.08

2 Intra-city transportation fares 3.52 0.02

3 Electricity fares 0.58 0.02

4 Clove flavored cigarretes 0.41 0.01

Deflation

1 Fuel (0.19) (0.01)

2 Household fuel (0.24) (0.00)

Inflation

Page 13: or ay k th th th th th s · 8 l 7 2 9 e 5 2 on 1 n ) ) 2 s ) ) 3 t ) )) on ) 1 s 6 8 2 s 2 2 3 s 8 2 4 s 1 1 on 1 l) ) 2 l) ) on | 13 | 14 | 15 1 Credit growth of 8.0% (yoy) in May

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Page 14: or ay k th th th th th s · 8 l 7 2 9 e 5 2 on 1 n ) ) 2 s ) ) 3 t ) )) on ) 1 s 6 8 2 s 2 2 3 s 8 2 4 s 1 1 on 1 l) ) 2 l) ) on | 13 | 14 | 15 1 Credit growth of 8.0% (yoy) in May

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Page 15: or ay k th th th th th s · 8 l 7 2 9 e 5 2 on 1 n ) ) 2 s ) ) 3 t ) )) on ) 1 s 6 8 2 s 2 2 3 s 8 2 4 s 1 1 on 1 l) ) 2 l) ) on | 13 | 14 | 15 1 Credit growth of 8.0% (yoy) in May

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1 Credit growth of 8.0% (yoy) in May 2016 was calculated based on the monetary concept, namely rupiah and

foreign currency loans extended by commercial and rural banks (excluding bank branches operating

internationally) to residents (excluding the central government). In contrast, credit growth according to the

banking concept achieved 8.34% (yoy) in the same period. Pursuant to the banking concept, credit includes

rupiah and foreign currency loans disbursed by commercial banks (including those operating internationally)

to residents (including the central government) and non-residents.

2 According to the banking concept.

-5

0

5

10

15

20

25

Jan

-12

May

-12

Sep

-12

Jan

-13

May

-13

Sep

-13

Jan

-14

May

-14

Sep

-14

Jan

-15

May

-15

Sep

-15

Jan

-16

May

-16

NDA NFA M2

Page 16: or ay k th th th th th s · 8 l 7 2 9 e 5 2 on 1 n ) ) 2 s ) ) 3 t ) )) on ) 1 s 6 8 2 s 2 2 3 s 8 2 4 s 1 1 on 1 l) ) 2 l) ) on | 13 | 14 | 15 1 Credit growth of 8.0% (yoy) in May

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Page 17: or ay k th th th th th s · 8 l 7 2 9 e 5 2 on 1 n ) ) 2 s ) ) 3 t ) )) on ) 1 s 6 8 2 s 2 2 3 s 8 2 4 s 1 1 on 1 l) ) 2 l) ) on | 13 | 14 | 15 1 Credit growth of 8.0% (yoy) in May

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Page 18: or ay k th th th th th s · 8 l 7 2 9 e 5 2 on 1 n ) ) 2 s ) ) 3 t ) )) on ) 1 s 6 8 2 s 2 2 3 s 8 2 4 s 1 1 on 1 l) ) 2 l) ) on | 13 | 14 | 15 1 Credit growth of 8.0% (yoy) in May

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Page 19: or ay k th th th th th s · 8 l 7 2 9 e 5 2 on 1 n ) ) 2 s ) ) 3 t ) )) on ) 1 s 6 8 2 s 2 2 3 s 8 2 4 s 1 1 on 1 l) ) 2 l) ) on | 13 | 14 | 15 1 Credit growth of 8.0% (yoy) in May

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Tenor 7 day 2 week 1 month 3 month 6 month 9 month 12 month

Term Structure of Monetary Operations

5.25% 5.45% 5.70% 6.10% 6.30% 6.40% 6.50%

3