As the Central Bank in Indonesia, Bank Indonesia (BI) has three main policies, namely Monetary Policy, Macroprudential Policy, and Payment System and Rupiah Management Policy. These policies aim to maintain a stable macroeconomic and financial system, as well as contribute to promoting economic efficiency and inclusiveness, allowing the Indonesian economy to grow strong, and to be balanced, resilient, and prosperous.

This message was conveyed by Reza Anglingkusumo, Plt. (acting officer) for the Head of the BI Statistics Department, in a Public Lecture entitled The Role of Surveys in Policy Formulation at Bank Indonesia. The Public Lecture was hosted by the Development Economy Study Program (DESP), Faculty of Economics and Business (FEB), Universitas Sebelas Maret (UNS), Friday, 26/5/2023 at the Suhardi Building Hall FEB UNS.

Furthermore, in carrying out its duties, BI can conduct surveys to obtain the data and information needed to support policy formulation. “The survey results conducted by BI are needed as one of the inputs in the policy formulation process at Bank Indonesia,” he explained in front of hundreds of students.

As an illustration, BI conducts several surveys related to the real sector to obtain relevant early information as input to the formulation of monetary policy. The survey includes Consumer Survey, Retail Sales Survey, and Business Sector Activity Survey, which monitors the latest domestic economic developments, and then serves as the input for pre-emptive and forward-looking monetary policy formulation.

The DESP Public Lectures went smoothly, with the invited speaker delivering a few interesting gifts to students who actively participate in the discussion.