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Indonesia sets banking credit growth target at 14 pct this year

Xinhua, February 18, 2016 Adjust font size:

Indonesian central bank aims for a 14 percent growth in the country's banking credit this year following its decision to ease its monetary policy, a top official said on Thursday.

Perry Warjiyo, a deputy governor at Bank Indonesia, said in Jakarta that the recent policies from his office would boost access on financing, and the acceleration of the government development budget spending would raise credit demand.

Last year the banking credits expanded at around 10 percent, according to Warjiyo.

Bank Indonesia slashed its benchmark interest rate by a quarter percentage point for the second time on Thursday and cut its deposit facility and lending facility rates by 0.5 percentage points each to 7.5 percent and 5.0 percent respectively, Agus Martowardojo, governor of the bank disclosed.

The central bank estimated the economy to accelerate at the range of 5.2 to 5.6 percent this year compared with 4.79 percent last year, according to him. Endit