We are strengthening our organizational transformation to create a digital-based superior performance organization and create prime and credible governance that is in line with the strategic direction of Bank Indonesia. The refinement of the new Bank Indonesia organization was supported by the digitization of business processes to support various business procedures, from policy formulation to institutional management (Scheme 9).
This is consistent with our view that the cash rate is likely to stay at its current level for some time. Another difference with the Bank of England's scheme is that we have not included a higher interest rate if credit contracts.