Policy Transformation in the Indonesian Central Bank

Abstract

The achievement of Bank Indonesia's vision, namely, to become the leading digital central bank that makes a real contribution to the national economy and is the best among emerging market countries for advanced Indonesia, is supported by the implementation of Bank Indonesia's comprehensive transformation. The transformation carried out is Bank Indonesia's response to facing various future challenges that could affect the achievement of its vision and mission. Bank Indonesia's policy transformation was carried out through strengthening the policy mix in order to carry out the mandate of the Law to maintain the stability of the value of the Rupiah (inflation and exchange rate), contributing to maintaining financial system stability, as well as encouraging sustainable economic growth, as well as strengthening each area of monetary policy, macroprudential, payment systems and policy support. Institutional transformation is carried out to improve superior performance based on effective, efficient and governance (2EG) performance so that Bank Indonesia's mandate can be carried out credibly.