Jakarta – Shortly after the General Election Commission (KPU) officially declared Prabowo-Gibran as the President and Vice President-Elect, Bank Indonesia (BI) made a significant move. As announced, the General Election Commission (KPU) finalized Prabowo Subianto – Gibran Rakabuming Raka as the elected President and Vice President for the 2024-2029 term on Wednesday, April 24, 2024, during the afternoon session. “The KPU has confirmed the presidential and vice-presidential candidate number 2, Mr. Prabowo Subianto and Mr. Gibran Rakabuming Raka, as the elected presidential and vice-presidential candidates for the 2024 – 2029 term,” stated Hasyim Asy’ari, Chairman of the General Election Commission (KPU), during the plenary session on Wednesday (24/4/2024). This confirmation of Prabowo-Gibran came after the Constitutional Court (MK) dismissed all appeals related to election disputes filed by both the Anies Baswedan-Muhaimin Iskandar (Cak Imin) and Ganjar Pranowo-Mahdud MD camps.
In response to this political development, Bank Indonesia promptly announced a notable decision, causing a stir on social media. Indeed, BI officially increased the benchmark interest rate, known as the BI Rate, by 25 basis points to 6.25%.
This adjustment signifies the first hike since October 2023, when the rate rose by 25 basis points to 6%. The rise in the benchmark interest rate has sparked a lively discussion on social media platforms, with many expressing negative sentiments, although some have also voiced positive opinions.
