CD Skripsi
Analisis Efektivitas Penerapan Kebijakan Baru Bank Indonesia Mengenai Perubahan Bi Rate Menjadi Bi 7-Days Repo Rate Terhadap Perkembangan Inflasi Tahun 2011-2020.
This study aims to analyze whether changes in Bank Indonesia's policy,
namely changing the old benchmark interest rate of the BI Rate into a new
benchmark interest rate, namely the BI 7-Days Repo Rate, which lasts from one
month to one week, is more effective in suppressing and controlling inflation in
Indonesia.
The data used in this study are quarterly data from 2011 to 2020. The
analytical method used is descriptive quantitative and analyzed using the Vector
Error Correction Model (VECM) approach using the computer statistical
program Eviews version 10.
The results of this study indicate that the change in the old benchmark
interest rate from the BI Rate to the BI 7-Days Repo Rate is effective due to its
relatively shorter timeframe, which is only 7 days compared to the BI Rate with a
period of one month and also the position of the BI 7-Days Repo Rate in the
market. Capital is fairly liquid, so this instrument can be used by the banking
sector as a source of liquidity. The presence of the BI 7-Days Repo Rate will
further encourage financial market deepening. Furthermore, based on the results
of the Impulse Response Function (IRF) and Variance Decomposition (VD)
graphs, it can be seen that the BI Rate is not effective in suppressing and
controlling the inflation rate and vice versa, the BI 7-Days Repo Rate is
considered effective for controlling inflation due to changes in the period of use.
BI Rate becomes the BI 7-Days Repo Rate, inflation moves steadily from one
quarter to another.
Keywords: Effectiveness, BI 7-Days Repo Rate, Inflation
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