Tuesday, 07 December 2021 | 21:04 WIB

Lending Rate Down Six Months After Deposit Interest Drops

Chairman of OJK Commissioners Board Wimboh Santoso

JAKARTA, NETRALNEWS.COM - The decline in lending rates should follow the decline of Bank Indonesia (BI) benchmark interest rate, BI 7-day Reverse Repo Rate by 25 basis points to 4.50 percent from 4.75 percent.

Chairman of Financial Services Authority (OJK) Commissioners Board, Wimboh Santoso said deposit interest rates will also decrease following the lowering of benchmark interest rate.

"Deposit interest rates would be ajdusted after maturity," said Santoso, Saturday (9/9/2017).

The decline in deposit rates, he added, will occur six months after lending rates drop.

Santoso said credit lending is expected to grow by eight percent year on year in July