Bank Indonesia (BI) is optimistic that the general public's fund placement in the form of BI Certificates (SBIs) will continue decreasing in line with the start of bank credit distribution activation.
In the last two auctions, the number of fund placement in SBIs went down to Rp16 trillion.
“Now the (SBI) trend is between leveling off (stagnant) and lowering. That's good news,” said BI Governor Burhanuddin Abdullah in Jakarta yesterday (2/5).
He acknowledged that banks' credit distribution was still slow and under the central bank's target.
However, there are still indications that bank's credit distribution is already in process so it can have positive effects on the national's economy.
Up to last March, the general public's funds, especially banks, saved in SBI reached Rp272 trillion.
However, he is optimistic that SBI amount by the end of the year will be much lower compared to now.
“Hopefully it can be under Rp200 trillion,” he said.
Regarding the possibility that BI changes minimum reserves like what China's central bank did, he said currently it will not be carried out because tightening the minimum reserves will influence banking stability.
BI, according to him, prefers using indirect approaches, such as interest rate.
“Through an open market or sometimes a combination,” he said.
Sukatmo Padmosukarso, PT Bank Internasional Indonesia's Director, predicted that fund placement at SBIs will go down significantly in this year's second semester.
“In the second quarter of this year it is beginning to go down. It'll be much more in the second semester,” he told Tempo in Jakarta yesterday.
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tempo
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