TEMPO.CO, Jakarta - President Prabowo Subianto summoned top executives of state-owned banks to the Presidential Palace on the exact day Bank Indonesia announced its benchmark interest rate.
Pandu Patria Sjahrir, Chief Investment Officer of the Danantara Sovereign Wealth Fund, claimed that the President's meeting with the board of directors and commissioners of the Association of State-Owned Banks (Himbara), which is held concurrently with the BI-Rate announcement, was unintentional.
"Let's just wait and see. If it happens at the same time, it's not an issue; it's just a coincidence. The schedule was already set," Pandu said upon arriving at the Presidential Palace complex in Jakarta on Thursday, June 18, 2026.
Pandu remained tight-lipped regarding the agenda for the day. He only noted that the Head of State would issue special directives to the Himbara chiefs. "This matter will be discussed with the Himbara banks. We are just here to listen to the President's instructions," Pandu added.
When pressed on whether Prabowo would hand down new assignments to the state-owned banks, Pandu simply replied, "We'll just listen to it, thank you."
Tempo observed that the state-owned banking bosses began arriving at the Presidential Palace starting at 2 p.m. The Himbara leadership appeared in uniform, sporting white shirts paired with light blue ties.
Among those spotted arriving were PT Bank Rakyat Indonesia President Director Hery Gunardi, PT Bank Tabungan Negara President Director Nixon L.P. Napitupulu, PT Bank Mandiri President Director Riduan, and PT Bank Negara Indonesia President Director Putrama Wahju Setyawan, alongside his deputy, Alexandra Askandar.
Several Himbara commissioners, including Didik J. Rachbini, Kartika Wirjoatmodjo, Yuliot Tanjung, and Febrio Nathan Kacaribu, were also in attendance.
Additionally, Coordinating Minister for Economic Affairs Airlangga Hartarto and Deputy Finance Minister Suahasil Nazara were seen entering the Palace.
Suahasil was brief when asked about the meeting. "There is a meeting, so let us hold the meeting first before making any announcements. (The Himbara leadership) mentioned they were gathering. We will convey it later," Suahasil said.
The meeting between Prabowo and the state-owned banking brass coincided directly with the unveiling of the Bank Indonesia Board of Governors Meeting results for June 2026. Bank Indonesia ultimately decided to hike its benchmark interest rate by 25 basis points to 5.75 percent.
"Based on a comprehensive assessment, the Bank Indonesia Board of Governors meeting on June 17 and 18, 2026, decided to raise the BI-Rate by 25 basis points to 5.75 percent," BI Governor Perry Warjiyo announced during a press conference at the BI headquarters in Jakarta on Thursday, June 18, 2026.
The central bank also opted to raise the deposit facility rate to 4.75 percent and the lending facility rate to 6.5 percent.
Perry explained that the BI-Rate hike is a preemptive measure to anchor the stability of the rupiah exchange rate amid swirling global uncertainty. The move is also calculated to keep inflation within the target corridor of 2.5 percent, plus or minus 1 percent, throughout 2026 and 2027.
Anastasya Lavenia contributed to this article
Read: Bank Indonesia Tightens FX Transactions Without Underlying to US$10,000
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