BI Rate Research Articles

Analysis of Macroeconomic Factors and Financial Performance on the Phenomenon of Sharia Bank Market Share Stagnancy

The Sharia banking market share is still stuck at the level of 7% of total national banking assets until the February 2024 period. Several strategic policies have been implemented by both regulators and Sharia banking players, but this has not yet increased the Sharia banking market share. Several other relevant studies inform that internal factors in the form of financial performance and macroeconomic conditions are one of the causes of the stagnant increase in the market share of sharia banking in Indonesia, so it is necessary to re-examine/analyze these factors. Furthermore, this research aims to analyze the influence of macroeconomic conditions as proxied by the inflation rate and BI rate as well as the financial performance of Sharia banks as proxied by the CAR and FDR ratios on the Market Share of Sharia Banks in Indonesia. The sample in this study was a total of sharia commercial banks and sharia business units with data regression analysis using the help of the Eviews version 12 program. The results of this research show that simultaneously the independent variables (inflation, BI rate, CAR and FDR) in this research have a significant influence on Market Share with a significance level of 5%. Overall, the results obtained show that the variables inflation, BI rate, CAR and FDR influence the Sharia banking Market Share with a significance level of 5%. Partially, inflation and FDR have no effect on the market share of sharia banking, but the BI rate and CAR have a significant effect on sharia banking in Indonesia.

DO MACROECONOMIC FACTORS AFFECT THE COMPOSITE STOCK PRICE INDEX?

The movement of the stock market index is a barometer of economic growth, and can be used to make investment decisions. Many factors influence the movement of a stock index, particularly from the macroeconomic perspective. This study analyzes the effects of BI rate, exchange rate, and inflation on the Composite Stock Price Index (CSPI). This research is a quantitative descriptive study conducted on food and beverage companies listed on the Indonesia Stock Exchange (IDX) during the 2018-2022 period. Sixty companies were sampled and analyzed using multiple linear regression tests. Hypothesis testing uses the R2 (coefficient of determination) test, F, and t-tests. The results show that BI and exchange rates have a partially significant effect on CSPI. Inflation did not have a significant effect on the CSPI. However, simultaneous testing showed that the three variables affected the CSPI.

The Effect of Macroeconomic Variables on Stock Returns of The Jakarta Islamic Index: A Panel Vector Error Correction Model Approach

Introduction: This study was conducted because there were differences in stock return trends in JII during 2016-2018, where stock return movements simultaneously decreased, but different conditions occurred in 2019-2022, where trend returns experienced different conditions between companies. This was caused by the domino effect of the Covid-19 Pandemic, which resulted in changes in Indonesia's BI Rate and Inflation. Thus, this study aims to analyze the long and short-term effects of BI Rate and Inflation on changes in the return of company shares in JII. Research Methods: This study uses the Panel Vector Error Correction Model (VECM) method, secondary data in the form of a Panel of Stock Return of 4 companies, BI Rate and Inflation during 2016-2022. Results: The long and short-term results in the previous two and three-quarters of the BI Rate were significantly positive for stock returns. While in the long and short term, inflation was significantly negative for stock returns. Conclusion: The research found that the BI Rate does not always negatively affect return. When the BI Rate increases, it gives investors confidence that the value of their investment is protected from depreciation. This can create a positive environment for the stock market so that it has an impact on rising stock prices.

Dampak Penanaman Modal dalam Negeri, Bi Rate, dan Nilai Tukar (Kurs) terhadap Indeks Harga Saham Gabungan di Indonesia

This study aims to analyze the impact of the Domestic Investment program (PMDN), Bank Indonesia interest rate (BI Rate), and exchange rate on the Jakarta Composite Index (JCI) in Indonesia. To test the relationship between the independent variable (PMDN, BI Rate, and exchange rate) and the dependent variable (JCI) over a certain period of time, multiple regression analysis method is used. This research uses data obtained from various reliable and relevant sources. The findings of this study are expected to provide a deeper understanding of the factors that influence JCI in Indonesia and provide insight for policymakers to improve the investment climate. The conclusions and policy recommendations generated from this study are expected to be able to make a positive contribution to Indonesia's economic development in the long term.

Factors Influencing the Performance of Indonesia's Sukuk Index During the Covid-19 Pandemic

The performance of Sharia-compliant bonds or sukuk can be affected by both internal and external factors, such as coupon rates and macroeconomic variables. This study aims to examine the impact and contribution of variables, namely the volatility index (VIX index), global sukuk index, BI rate, Consumer Price Index, and exchange rates, on the return of the Indonesian sukuk index from January 2018 to February 2020 and from March 2020 to December 2022, before and during the Covid-19 pandemic. As a research method, the Vector Error Correction Model (VECM) is applied. Prior to the Covid-19 pandemic, the long-term return of the Indonesian sukuk index was driven by the VIX index, the BI rate, and exchange rates, whilst the global sukuk index had no influence. During the Covid-19 epidemic, the return of the Indonesian sukuk index was influenced by the VIX Index, the global sukuk index, inflation, and exchange rates, but was unaffected by the BI rate variable. During the Covid-19 epidemic, the return of Indonesian sukuk index was primarily driven by the global sukuk index.

Pengaruh Kebijakan Moneter terhadap Inflasi di Indonesia

This study aims to describe the influence of money in circulation and the BI Rate on inflation in Indonesia from January 2021 to June 2023. This research is a literature study that departs from quantitative methods using secondary data obtained at the Central Statistics Agency (BPS). This research uses a multiple linear regression approach using SPSS data processing tools. The results of the F test show that simultaneously, the variable money in circulation and the BI rate have a significant effect on inflation in Indonesia. Partially, both also have a significant influence on inflation. The findings of this research underline the importance of continuing to create various policies to overcome the inflation problem in Indonesia.

Pengaruh Nilai Tukar Rupiah dan BI Rate Terhadap Harga Saham Sektor Basic Materials pada IDX MES BUMN 17 Periode 2021-2023

This research aims to test the rupiah exchange rate and BI Rate variables on basic materials sector stock prices on IDX MES in the long term and short term using the Vector Error Correction Model (VECM) analysis method in the Eviews 11 application. The data used is monthly in January 2021 -December 2023 sourced from Bank Indonesia and the Indonesian Stock Exchange. The results obtained are in accordance with the VECM test, the rupiah exchange rate variable in the short term and long term has a significant negative effect on stock prices, while the BI Rate variable in the short term and long term has no significant effect on stock prices. Based on the causality test, the rupiah exchange rate and BI There is no two-way causal relationship between rates and share prices.

PENGARUH VARIABEL MAKROEKONOMI TERHADAP INDEKS SAHAM SYARIAH INDONESIA (ISSI) PADA TAHUN 2011-2022

This research was motivated by the inconsistent relationship between the Indonesian Sharia Stock Index (ISSI) and macroeconomic variables that influence Indonesian sharia stock prices including the inflation rate, Bi Rate, rupiah exchange rate, world oil prices, gold prices, and economic growth. The research aims to analyze, determine and explain the impact of the Indonesian Sharia Stock Index on macroeconomic variables. This type of research uses quantitative data for the period 2011 to 2022 sourced from BPS, Investing.com, BI and OJK. Data analysis techniques involve multiple linear regression tests, classical assumption tests, and hypothesis tests. The indicator achievement results describe macroeconomic variables, namely Bi Rate has a significant negative impact, the rupiah exchange rate tends to be positive and significant, and economic growth has a significant positive impact, while inflation, world oil prices and gold prices have no impact and are not significant, meaning that the Indonesian ISSI sharia stock price experiences Volatility is not fully influenced by macroeconomics, especially Bi Rate, Rupiah exchange rate, and economic growth, which means these variables contribute to the movement of Indonesian Sharia stock prices (ISSI) so that research refers to policymakers, stakeholders and investors who can consider factors fundamentally. as well as analytics in decision making and portfolio management in the Indonesian sharia stock market.

THE IMPACT OF NON-PERFORMING LOANS AND THE BI RATE ON RETURN ON ASSETS

The increase in interest rates also brings changes in the management of funding sources and distribution of funds (credit). Changes in interest rates of course not only affect the profits generated by banks, but also how banks manage the interest income earned and interest paid. This research aims to determine the effect of non-performing loans (NPL) and the Bank Indonesia Interest Rate (BI Rate) on Return on Assets (ROA). The sample used in this research is state-owned banks listed on the Indonesian Stock Exchange (BEI) for the period 2020-2022. The research method used is an associative method with a quantitive approach. The data analysis technique used is multiple linear regression. The research results show that Non Performing Loans (NPL) have a negative and significant influence on Return on Assets (ROA) and the BI Rate has a negative and insignificant influence on Return on Assets (ROA).

Analisis Bi Rate, Inflasi, dan Nilai Tukar terhadap Tingkat Tabungan pada Bank-Bank Umum Di Indonesia: Sebelum dan Pasca Pandemi Covid-19

There are 3 main impacts in using the BI 7-Day (Reverse) Repo Rate instrument as the new policy interest rate, one of which is increasing the effectiveness of monetary policy transmission through its influence on movements in money market interest rates and banking interest rates. Interest rates will affect the level of savings in society. How effective was this interest rate during the pre-pandemic and post-Covid-19 pandemic periods in influencing people's savings levels? The movement of the savings rate is interesting to observe because this variable will experience quite elastic movements when there is the influence of other macroeconomic variables such as inflation and exchange rates. This research aims to measure the impact of movements in the BI rate, inflation and exchange rate on public savings at commercial banks in Indonesia in 2018-2021. This research uses mixed methods. Mixed method is a research method that combines qualitative and quantitative approaches. This research uses an Explanatory Sequential design, starting with data collection and analyzing quantitative (numerical) data in stage 1 and continuing with collecting and analyzing qualitative data (text) in stage 2 which is built based on the results or findings in stage 1 (Creswell and Clark, 2018). This design aims to provide a deeper explanation based on the results or findings in quantitative research, where the quantitative research uses the Vector Error Correction Model (VECM). The variables used in this research are BI Rate, Inflation, Exchange Rate and Community Savings in commercial banks. The time period analyzed is from 2017-2020. The results of this research prove that the variables that had a significant influence on people's savings levels in the period before the Covid-19 pandemic were inflation and the exchange rate, while the BI rate had no significant influence. In the post-pandemic period, it is proven that the variables that have a significant influence on people's savings levels are the BI rate and inflation, while the exchange rate variable has no significant influence.

Pengaruh Indikator Kesehatan Bank, Faktor Ekstenal dan Pertumbuhan Laba terhadap Return Saham Perbankan di Bursa Efek Indonesia

This research aims to examine the influence of bank health indicators, external factors and profit growth on stock returns. Bank health indicators are reviewed based on risk profile, earnings and capital. Risk profile is measured using the non-performing loan (NPL) proxy, earnings are measured using the return on assets (ROA) and net interest margin (NIM) proxies, capital is measured using the capital adequacy ratio (CAR) proxy. The external factor in this research is inflation. measured by changes in inflation each year, the BI Rate and profit growth are measured by proxies for changes in profits each year. The object of this research is banking companies listed on the Indonesia Stock Exchange during the 2016-2020 period. The sample selection technique is the purposive sampling method, research data is secondary data obtained from annual reports and financial reports of banking companies. which has been published on the IDX website (www.idx.co.id) and the company website during the 2016 - 2020 period. The research results show that macroeconomic factors, namely interest rates, have no effect on company value, while inflation has a positive effect on company value. Microeconomic factors, namely sales growth, company size and capital structure have no effect on company value.

Analisis Efektivitas Inflasi, Bi Rate, Nilai Tukar (KURS), Pembiayaan Murabahah, dan Pembiayaan Musyarakah Terhadap Profitabilitas Perbankan Syariah di Indonesia (Periode 2020 – Desember 2022)

This research uses secondary data where the variables used are Inflation, BI Rate, Exchange Rate (KURS), Murabahah Financing, Mudharabah Financing and Profitability (ROA) with a period of January 2020 – December 2022. This research aims to determine the contribution between variables and Which policy recommendations are good in the short, medium and long term. The analysis technique applied in this research is VAR, which is a technique that aims to determine short-term, medium-term and long-term impacts based on several historical variables. The data used is secondary data taken from BI and OJK and processed using the Eviews10 application. The dependent variable used in this research is Profitability (ROA), while the independent variables used are Inflation, BI Rate, Exchange Rate (Exchange Rate), Murabahah Financing, and Musyarakah Financing. The results of research based on VAR estimation results state that Profitability (ROA) is the largest contribution in influencing research variables.

Shifting analysis of grain carriers using System Dynamics Simulation

PT PFS is a subsidiary of PT BJ specially serving of port services. PT PFS need to shift FSO Ardjuna Sakti from jetty 1.6-1.7 to the new jetty (jetty 4.5-4.6) because PT PFS has some problems and activity plans. The problems are teh increased of commercial demand, the development jetty 3 of port CDG, the Berth Occupation Ratio (BOR) which already exceeds 65%, the expansion plan of PT BJ and the need for flexibility on the jetty 1.5-1.8. Therefore, it is necessary to do the analysis of shifting the FSO Ardjuna Sakti. The method use in this study is comparing the financial analysis using manual calculation and system dynamics simulation. The financial analysis uses in this study are Internal Rate of Return (IRR), Payback Period, Net Present Value (NPV) and comparing revenue and profit between FSO Ardjuna Sakti in jetty 1.6-17 and jetty 4.5-4.6. The result of the study showed that the IRR is 14,73%, it is exceed than the MARR of BI rate 6,5%, Payback Period is 5 years so investment will comeback at 5 next years, and the value of the NPV with manual and system dynamics simulation has both positive value or exceed than 0 (zero). The result of manual calculation of NPV is Rp.15.369.374.455 and the result of system dynamics simulation is Rp.1.184.863.983.489. Comparing manual calculation and system dynamics simulation of revenue and profit of FSO Ardjuna Sakti in jetty 1.6-1.7 respectively is Rp.2.384.292.880 and Rp.2.125719.660 whilst in jetty 4.5-4.6 respectively is Rp.9.015.993.344 and Rp.6.761.995.008. From those financial methods compared manually and by system dynamics simulation, we can conclude the investment decisions are feasible. And activity of shifting FSO Ardjuna Sakti from jetty 1.6-1.7 to the jetty 4.5-4.6 is appropriate to do.

Pengaruh CAR, BOPO, ROA dan BI RATE terhadap NPL Bank

This research aims to evaluate the impact of Capital Adequacy Ratio (CAR), Operational Expenses on Operating Income (BOPO), Return on Assets (ROA), and BI Rate on Non-Performing Loans (NPL) of Banks in Indonesia from 2019 to 2021. Method used is panel regression analysis with data from the financial reports of 43 banks published by the Financial Services Authority (OJK). The sample includes banks that are listed on the Indonesian Stock Exchange and have complete data for that period. The research results show that CAR does not have a significant influence on bank NPL, indicating that the availability of bank capital does not significantly influence the level of bank non-performing loans. On the other hand, BOPO has an effect on bank NPLs, where high operational costs and low operating income tend to increase the bank's level of non-performing loans. ROA also does not have a significant effect on bank NPL, indicating that the rate of return on bank assets does not substantially influence the level of bank non-performing loans. However, the BI Rate has a significant influence on bank NPLs, indicating that Bank Indonesia's benchmark interest rate (BI Rate) has a significant impact on the level of bank non-performing loans. In conclusion, the research emphasizes the importance of managing operational efficiency and paying attention to changes in the BI Rate to control credit risk and maintain a healthy NPL level. Keywords: CAR, BOPO, BI RATE, NPL, ROA

The Impact of Macroeconomics on Advancing MSME Development in Indonesia

Micro, Small and Medium Enterprises (MSMEs) contribute around 60% to Indonesia's Gross Domestic Product (GDP), playing a crucial role in economic development. MSME growth is the main focus, influenced by macroeconomic factors such as the BI Rate, inflation and exchange rate. This study uses secondary data from Bank Indonesia, BPS, and the Ministry of Cooperatives and Small and Medium Enterprises from 1997 to 2022. The quantitative analysis method using Eviews 10 shows that the BI Rate has a positive impact on the number of MSMEs but inflation and exchange rates have not. The conclusion of this study emphasizes the importance of appropriate policies to support the growth of the MSME sector and the economy as a whole.

Analisis Pengaruh Bagi Hasil, Inflasi, Nilai Tukar, dan Bi-Rate Terhadap Dana Pihak Ketiga pada Bank Bjb Syariah

This study ed to determine the factors that influence third party funds. This type of research was quantitative research using secondary data in the form of time series data of 34 monthly samples from January 2019 to October 2021 with the object of bank bjb syariah. with Bank BJB Syariah research object, Data was processed using E-views software version 12. The research results ed that profit sharing and inflation had no partial effect on third party funds at Bank BJB Syariah, the exchange rate and the BI rate had a significant negative effect on funds. third parties at Bank Bjb Syariah, and together (simultaneously) profit sharing, inflation, exchange rate, and Bi rate affect third party funds at Bank Bjb Syariah.

Profitability as a Mediation for Problem Loans, Third-Party Funds, BI Rate on Company Value

This research from 2016 to 2022 intends to understand the relationship between the Islamic banking sector in Indonesia, company value, where profitability is the mediator between non-performing loans and third-party funds, and interest rates. This methodology uses purposive sampling to produce nine samples representing Islamic financial institutions. The criteria is an annual banking report, which can be obtained on the bank's official website or at the OJK. The quantitative descriptive methodology used in this research consists of the Sobel test and panel data regression analysis. Data analysis findings show that while profitability and the BI rate impact a company's value less, non-performing loans and third-party funding do. Profitability is unaffected by BI rates, non-performing loans, and third-party funding. Profitability does not mitigate the effect of third-party financing, non-performing loans, and the BI rate on a company's value.

Implementasi Sistem Bagi Hasil Pada Bank Rakyat Indonesia (Bri) Syariah Di Kota Bandar

This study plans to look at the execution of the benefit-sharing framework at Bank Rakyat Indonesia (BRI) Syariah in Bandar Lampung City. The quick advancement of Islamic banking, particularly in correlation with regular banking, shows the high open revenue in monetary foundations that consent to Islamic sharia standards. This exploration utilizes a subjective methodology with interview strategies and writing studies, zeroing in on the utilization of the mutlaqah mudharabah contract for Hajj travel costs. Information examination includes data from Bank BRI Syariah Bandar Lampung Branch and considers factors, for example, BI Rate, bank benefit, bank FDR, and economic situations. The outcomes showed that the benefit-sharing framework at Bank BRI Syariah Bandar Lampung Branch depends on income sharing, whereas benefit sharing depends on all-out income before deducting costs. Bank BRI Syariah sets a base equilibrium standard, and the benefit sharing is changed by the equilibrium. Albeit the benefit-sharing framework enjoys benefits in decency and consistency with sharia standards, the elevated degree of chance in mudharabah and musyarakah support is one of the principal impediments. This examination creates a top-to-bottom comprehension of the execution of the benefit-sharing framework at Bank BRI Syariah, as well as the difficulties and strategies looked at in carrying out Islamic sharia standards in its financial exercises. The discoveries of this exploration give important bits of knowledge to other Islamic monetary establishments and related gatherings to work on the viability and manageability of the Islamic plan of action in Indonesia.

Pengaruh Suku Bunga BI Rate dan BI 7 Day Reverse Repo Rate terhadap Inflasi di Indonesia dengan Metode Vector Autoregression (VAR)

This research aims to investigate and analyze the influence of the BI Rate and BI 7 Day Reverse Rate (BI 7 DRRR) on Inflation in Indonesia. The study utilizes secondary data covering BI Rate, BI 7 DRRR and Inflation for the period 2011-2022, obtained from the official website of Bank Indonesia. The research employs a quantitative desciptive approach, employing Vector Autoregression (VAR) as the analytical tool. The findings indicate that the BI Rate has a positive and significant impact on inflation in Indonesia, whereas BI 7 DRRR exhibits a negative and insignificant influence on inflation in Indonesia at a 5% significance level

Monetary Policy and Inflation Targeting Framework in Indonesia Dual Banking System

Since 1990 the use of inflation as a nominal anchor used as the main target of monetary policy began to be an option for central banks in several countries. The new monetary policy framework is then known as Inflation Targeting Framework (ITF). This study tries to look at some important variables that affect the inflation rate within the framework of the Inflation Targeting Framework concept using Vector Error Correction Model. The results of data processing using VECM analysis can determine the behavior of Bank Indonesia Rate (BI Rate), Money Supply, Interbank Money Market (PUAB), Sharia Interbank Money Market (PUAS), and Sharia Bank Indonesia Certificates (SBIS). These variables significantly affect the inflation rate. The results of this study can provide important information for decision makers and academics as an evaluation of the application of ITF based on its application in Indonesia.