October 17, 2019
|Govt. Bond Yields||Latest Yield||Previous Day||Previous Week||YTD|
|2 Year||6.153||▲ 1.3||▼ 2.1||▼ 113.5|
|5 Year||6.639||▲ 0.9||▼ 4.1||▼ 126.8|
|10 Year||7.150||▼ 3.2||▼ 11.9||▼ 87.5|
* Government bond yield changes are expressed in basis points.
|Currencies||Latest Rate||Previous Day||Previous Week||YTD|
|IDR per USD||14,155.000||▲ 0.1||▼ 0.0||▲ 1.6|
|IDR per JPY||130.269||▲ 0.0||▲ 0.6||▲ 0.7|
* Exchange rate changes are expressed as a percentage change.
|Interest Rates||Latest Rate||Previous Day||Previous Week||YTD|
|1D INDONIA||5.065||▼ 2.7||▼ 7.6||▼ 76.4|
|3M JIBOR||5.796||▼ 0.4||▼ 2.1||▼ 190.7|
* Interest rate changes are expressed in basis point change.
|Policy Rates||Latest Rate
|Bank Indonesia 7-day
Reverse Repo Rate
|5.250||▼ 25.0||▼ 75.0|
* Policy rate changes are expressed in basis point change.
|Regional Rating Institutions|
|Non-Regional Rating Institutions|
ASEAN+3 Bond Market Guide is a comprehensive explanation of the regionís 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.
|* Download previous issues PDF|
Local currency (LCY) government bond yields in Indonesia declined between 1 June and 15 August, shifting the entire yield curve downward. The downward trend in bond yields was largely influenced by the 25 basis point policy rate cut by Bank Indonesia announced on 18 July and the sovereign ratings upgrade by S&P Global Ratings on 31 May. Dovish stances by central banks in major advanced economies likewise contributed to the decline in bond yields. Amid global growth moderation and low inflation, the European Central Bank and the Bank of Japan hinted at easing measures, and the United States Federal Reserve undertook a 25 basis point cut of the federal funds target rate on 31 July. This, in turn, fueled investor interest in higher yielding emerging market assets such as Indonesian bonds.
Indonesia's LCY bond market reached a size of IDR3,069.9 trillion (USD217.3 billion) at the end of June, as growth contracted a marginal 0.5% quarter-on-quarter (q-o-q) in the second quarter of 2019 amid contractions in both central bank bonds and corporate bonds. On a year-on-year (y-o-y) basis, overall bond market growth moderated to 17.6% in the second quarter of 2019 from 18.7% in the first quarter. The stock of LCY government bonds at the end of June totaled IDR2,652.6 trillion, with growth falling 0.3% q-o-q but rising 20.1% y-o-y. In the same period, corporate bonds outstanding stood at IDR417.3 trillion, down 1.6% q-o-q but up 3.7% y-o-y.
In August, the President of Indonesia announced the macroeconomic assumptions for the draft 2020 state budget. Among the assumptions were (i) economic growth of 5.3% to be driven by consumption and investments, (ii) an inflation target of 3.1% to support purchasing power, (iii) an exchange rate of IDR14,400 per US dollar, (iv) a 3-month Treasury bill rate of 5.4%, and (v) an Indonesian crude oil price of USD65 per barrel. The government is looking at a 2020 budget deficit equivalent to 1.76% of gross domestic product.
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