Bank Indonesia's Monetary Policy Strategies in Maintaining Inflation and Rupiah Exchange Rate Stability STRATEGI KEBIJAKAN MONETER BI DALAM MENJAGA INFLASI DAN STABILITAS RUPIAH Section Articles

Abstract

Abstract. Inflation and exchange rate stability are crucial indicators in maintaining Indonesia’s economic stability. As the central bank, Bank Indonesia plays a strategic role in controlling inflation and preserving the stability of the rupiah through various monetary policy instruments. This study aims to analyze Bank Indonesia’s monetary policy strategies in maintaining inflation and exchange rate stability, as well as to evaluate their effectiveness in supporting national economic growth. The research employed a qualitative descriptive approach using secondary data obtained from Bank Indonesia reports, Statistics Indonesia (BPS), scientific journals, and other relevant literature. The findings indicate that Bank Indonesia has successfully managed inflation through the implementation of the Inflation Targeting Framework (ITF), adjustments to the BI-Rate, monetary operations, foreign exchange market interventions, and policy coordination with the government through inflation control teams. These measures contributed to reducing inflation from 5.51% in 2022 to 1.57% in 2024 while maintaining rupiah stability amid global economic pressures. Nevertheless, challenges arising from global economic uncertainty, foreign capital flow volatility, and supply-side inflationary pressures remain significant concerns that require continuous policy vigilance and adaptation.

Abstrak. Inflasi dan stabilitas nilai tukar rupiah merupakan indikator penting dalam menjaga stabilitas perekonomian Indonesia. Bank Indonesia sebagai bank sentral berperan dalam mengendalikan inflasi dan menjaga kestabilan nilai rupiah melalui berbagai kebijakan moneter. Penelitian ini bertujuan menganalisis strategi kebijakan moneter Bank Indonesia dalam menjaga inflasi dan stabilitas nilai tukar rupiah serta mengevaluasi efektivitasnya terhadap pertumbuhan ekonomi nasional. Metode yang digunakan adalah deskriptif kualitatif dengan data sekunder yang bersumber dari laporan Bank Indonesia, Badan Pusat Statistik, jurnal ilmiah, dan literatur terkait. Hasil penelitian menunjukkan bahwa Bank Indonesia mampu mengendalikan inflasi melalui penerapan Inflation Targeting Framework (ITF), penyesuaian BI-Rate, operasi moneter, intervensi pasar valuta asing, serta koordinasi dengan pemerintah melalui Tim Pengendalian Inflasi. Kebijakan tersebut berhasil menurunkan inflasi dari 5,51% pada 2022 menjadi 1,57% pada 2024 dan menjaga stabilitas nilai tukar rupiah di tengah tekanan ekonomi global. Namun, ketidakpastian ekonomi global, volatilitas arus modal asing, dan tekanan inflasi dari sisi pasokan tetap menjadi tantangan yang perlu diantisipasi.