Inp.polri.go.id - Jakarta. Minister  of Finance Purbaya Yudhi Sadewa has denied instructing state-owned banks (Himbara) to raise foreign currency deposit rates to 4 percent, following a collective move by state lenders to adjust US dollar deposit rates.

“There is no such policy. I never told Danantara or any bank to raise deposit rates like that,” he told reporters at the Finance Ministry in Jakarta on Friday (26/9/2025), as reported by antaranews.com.

Minister Purbaya acknowledged discussions on incentives for foreign currency holders but stressed no decision has been made as risks are still under review by a presidentially assigned team. He underlined his pro-market stance, saying policies should encourage efficiency through supply-driven measures rather than dictate interest rates.

The minister also said the banks’ decision was not coordinated with the Financial System Stability Committee (KSSK), which includes Bank Indonesia and the Financial Services Authority. He suggested the move was an independent initiative by the banks’ leadership.

(mg/inp/pr/rs)