Bank Indonesia's (BI) choice to further cut its 7-day repo rate in October won't extraordinarily influence banks' loan fees because of a befuddle in eras, a market analyst has said.
Store Insurance Corporation (LPS) magistrate Destry Damayanti, who is additionally a senior business analyst, said the extent of the 7-day repo rate was too short contrasted with banks' needs.
"The reference rate influenced the overnight interbank rate however banks are searching for one-to three-month obligation instruments to build their liquidity at this moment," she said after an Indonesian Economists Association meeting in Jakarta on Friday.
She said as opposed to being influenced by BI's reference rate, banks' financing costs would rather be influenced by obligation instruments' yield.
Bank Mandiri president executive Kartika "Tiko" Wirjoatmodjo said banks needed to meet their arranged capital ampleness proportion before the year's over. As outsider assets diminished in September, they should secure cash by issuing obligation instruments.
"A few banks require no less than three-month instruments to expand their capital base, in any event until they end this year," Tiko said.
At present, three-month to one-year obligation instruments have 7 to 7.6 percent financing costs while the BI 7-day repo rate is at 4.75 percent.
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