Loan growth inched up again in July 2023 to 8.5% yoy from the previous 7.7% yoy. That is a good indicator of a thriving economy. Bank Indonesia introduced a new instrument SRBI (Sekuritas Rupiah Bank Indonesia) in order to attract foreign funds flow and optimise government bonds owned by Bank Indonesia. We see domestic money market bond yields are less likely to rise further with the latest developments in the US economy and are also supported by flush liquidity in domestic markets. Therefore, we have a broader underlying position in money market bonds than bank deposits. Bank Indonesia is less likely to raise the benchmark rate BI 7D RRR over 5,75% considering the current stable exchange rate Rupiah and low inflation.
|MIPU||MIPU invests in Money Market Instruments with a Short-Term segment and is categorized as Low risk. Investors bear the risk associated with the Money Market Portfolio.|
|MPUS||MPUS Mutual Fund invests in Sharia-compliant Money Market Instruments with a Short-Term segment and is categorized as Low risk. Investors bear the risk associated with the Sharia Money Market Portfolio.|
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