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Close of August 15, 2022 |
Change From | |||
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Govt. Bond Yields | Latest Yield | Previous Day | Previous Week | YTD |
2 Year | 5.586 | ▼ 1.3 | ▲ 30.2 | ▲ 146.1 |
5 Year | 6.381 | ▲ 5.6 | ▼ 5.0 | ▲ 128.2 |
10 Year | 7.076 | ▲ 9.4 | ▼ 6.7 | ▲ 69.4 |
* Government bond yield changes are expressed in basis points. |
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Currencies | Latest Rate | Previous Day | Previous Week | YTD |
IDR per USD | 14,742.000 | ▼ 0.5 | ▲ 0.9 | ▼ 3.4 |
IDR per JPY | 110.576 | ▼ 0.6 | ▼ 0.3 | ▲ 10.8 |
* Exchange rate changes are expressed as a percentage change. |
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Interest Rates | Latest Rate | Previous Day | Previous Week | YTD |
1D INDONIA | 2.808 | ▲ 0.6 | ▲ 0.6 | ▲ 2.5 |
3M JIBOR | 3.924 | 0.0 | ▲ 2.2 | ▲ 17.4 |
* Interest rate changes are expressed in basis point change. |
Change From | ||||
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Policy Rates | Latest Rate (21-Jul-2022) |
Previous Rate (23-Jun-2022) |
YTD Rate |
|
Bank Indonesia 7-day Reverse Repo Rate |
3.500 | 0.0 | 0.0 | |
* Policy rate changes are expressed in basis point change. |
Agency | Rating | Outlook | Date | |
---|---|---|---|---|
Regional Rating Institutions | ||||
R&I | BBB+ | stable | 2020-03-17 | |
RAM | BBB2 | stable | 2019-10-31 | |
Non-Regional Rating Institutions | ||||
Fitch | BBB | stable | 2021-11-22 | |
S&P | BBB | stable | 2022-04-27 | |
NEWS HIGHLIGHTS
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BOND ISSUANCES
ASEAN+3 Bond Market Guide is a comprehensive explanation of the region's bond markets. It provides information such as the history, legal and regulatory framework, specific characteristics of the market, trading and transaction (including settlement systems), and other relevant information. The Bond Market Guide 2017 for Indonesia is an outcome of the support and contributions of ASEAN+3 Bond Market Forum members and experts, particularly from Indonesia. View Report
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Between 28 February and 15 May, the local currency (LCY) government bond yield curve in Indonesia shifted upward. Yields gained an average of 110 basis points across the curve, posting the steepest rise among all emerging East Asian markets. Higher yields in advanced economies due to persistent global inflationary pressure and the faster pace of monetary policy normalization by the United States Federal Reserve drove regional bond yields, including Indonesia’s, to rise during the review period. The upward shift in Indonesia’s yield curve also reflects rising domestic inflationary pressure, expectations of an earlier-than planned policy rate hike, and the resulting capital outflows from the bond market due to the Federal Reserve’s aggressive monetary tightening stance.
The LCY bond market of Indonesia continued to post modest growth in the first quarter (Q1) of 2022, expanding to a size of IDR5,478.4 trillion (USD381.4 billion) at the end of March. Growth, however, moderated to 3.1% quarter-on-quarter in Q1 2022, on the back of a slowdown in issuance during the quarter. Government bonds continued to drive growth, in particular Treasury bills and bonds, which comprised 88.1% of the total bond stock at the end of March. Also contributing to the overall growth were the central bank and corporate bond segments, both of which posted quarter-on-quarter expansions in Q1 2022. In contrast, the outstanding stock of nontradable bonds continued to decline at the end of March. On a year-on-year basis, Indonesia’s LCY bond market grew 14.1% in Q1 2022, down from 17.7% in the fourth quarter of 2021.
On 24 May, Bank Indonesia announced that it would quicken the pace of reserve requirement ratio adjustments from its earlier announcement made in January. The move is part of the central bank’s liquidity normalization policy. The first adjustment to the reserve requirement ratio proceeded as planned on 1 March. Subsequent adjustments will now take effect on 1 June, 1 July, and 1 September, bringing the rupiah reserve requirement ratio for conventional commercial banks to 6.0%, 7.5%, and 9.0%, respectively. The corresponding adjustments for Shariah banks and business units will be 4.5%, 6.0%, and 7.5%, respectively.