Jakarta (Antara Bali) - Bank Indonesia said the country's economic liquidity grew with money supply increasing in August compared with the previous month.
Communications Executive Director of the central bank Tirta Segara said money supply grew 13.3 percent (yoy) in August after a 12.5 percent growth (yoy) in July.
Tirta attributed the increase in money supply to accelerated credit expansion by banks.
In August bank credits grew 10.8 percent (yoy) higher than a growth of 9.6 percent (yoy) in the previous month after a slowdown since September 2013, Tirta said here on Tuesday.
Tirta described the growth as a good sign for better performance in the coming months, saying credit expansion was recorded mainly for working capital credits and investment credits.
Increases were recorded in the supply of currency, demand deposits, quasy money and other securities not including shares.
Supply of rupiah currency and demand deposits grew 12.3 percent in July and the growth rate rose to 14.6 percent (yoy) in August.
"This is as our estimate that consumption would improve as indicated by the consumer confidence index that grew in August," he said.
In addition, queasy money (time deposits and savings in rupiah and foreign exchange and gyro deposits in foreign exchange) and securities other than shares in August respectively grew 12.7 percent and 94.7 percent (yoy) faster than previous month's growth of 12.4 percent and 69 percent (yoy).
Meanwhile, credit interest rate was relatively stable despite a decline in savings interest rate. In August, 2015, the interest on credit averaged 12.92 percent -- the same as in July.
The interest rates on time savings - 1, 3, 6 and 12 months - in August 2015 were 7.65 percent, 8.06 percent, 8.64 percent and 8.58 percent respectively down or from 7.77 percent, 8.13 percent, 8.71 percent and 8.75 percent. (WDY)
COPYRIGHT © ANTARA News Bali 2015
Communications Executive Director of the central bank Tirta Segara said money supply grew 13.3 percent (yoy) in August after a 12.5 percent growth (yoy) in July.
Tirta attributed the increase in money supply to accelerated credit expansion by banks.
In August bank credits grew 10.8 percent (yoy) higher than a growth of 9.6 percent (yoy) in the previous month after a slowdown since September 2013, Tirta said here on Tuesday.
Tirta described the growth as a good sign for better performance in the coming months, saying credit expansion was recorded mainly for working capital credits and investment credits.
Increases were recorded in the supply of currency, demand deposits, quasy money and other securities not including shares.
Supply of rupiah currency and demand deposits grew 12.3 percent in July and the growth rate rose to 14.6 percent (yoy) in August.
"This is as our estimate that consumption would improve as indicated by the consumer confidence index that grew in August," he said.
In addition, queasy money (time deposits and savings in rupiah and foreign exchange and gyro deposits in foreign exchange) and securities other than shares in August respectively grew 12.7 percent and 94.7 percent (yoy) faster than previous month's growth of 12.4 percent and 69 percent (yoy).
Meanwhile, credit interest rate was relatively stable despite a decline in savings interest rate. In August, 2015, the interest on credit averaged 12.92 percent -- the same as in July.
The interest rates on time savings - 1, 3, 6 and 12 months - in August 2015 were 7.65 percent, 8.06 percent, 8.64 percent and 8.58 percent respectively down or from 7.77 percent, 8.13 percent, 8.71 percent and 8.75 percent. (WDY)
Editor : I Gusti Bagus Widyantara
COPYRIGHT © ANTARA News Bali 2015