JAKARTA: Indonesia’s central bank raised interest rates six times this year, yet consumer lending rates are still falling in South-East Asia’s biggest economy.
Between May and September, when Bank Indonesia raised its benchmark rate by 150 basis points, average rates for consumer loans fell by 44 basis points to 11.9%, according to the most recent data from the nation’s Financial Services Authority. Rates for investment loans rose only 25 basis points.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!