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Indonesia expects banking credit to expand by 23.6 pct in 2012

01-12-2012 16:45 BJT

JAKARTA, Jan. 12 (Xinhua) -- The Indonesian central bank forecasts banking credit is going to grow by 23.6 percent this year, lower than last year's expectation of 24.4 percent, Deputy Governor of the bank Halim Alamyah said here on Thursday. "This indicates that the national banking is still optimistic on our economy," the deputy told a press conference at the bank office here.

The central bank kept its benchmark interest rate on hold at 6 percent on Thursday as it aimed to spur the economic growth, keep inflation target at 3.5 percent to 5.5 percent and maintain financial stability, Governor of the bank Darmin Nasution said.

The bank cut its basic rate by 75 basis points in October and November before it ceased to do so in December to help spur the economic growth amid the uncertainty of the global economy.

Indonesia's economy grew by 6.5 percent in 2011, according to data from Statistic Bureau. The central bank forecast that GDP will reach 6.3 percent to 6.7 percent this year and 6.4 percent to 6.8 percent next year, said Nasution.

Huge household consumption and investment followed by exports were expected to spur the economic growth this year.

Fitch rating agency's decided to upgrade Indonesia sovereign debt status from BB+ to BBB- on Dec. 15, raising expectations that another leading rating agency, either Moody's or Standard and Poor 's, would follow suit in the first half of this year. This is expected to boost foreign capital inflows into Indonesia.


Editor:Bai Yang |Source: Xinhua

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