ANALISIS PENGARUH SUKU BUNGA, NILAI TUKAR, DAN INFLASI TERHADAP PERTUMBUHAN EKONOMI DI INDONESIA (2015-2024)

Abstract

This study aims to analyze the effect of interest rates, exchange rates, and inflation on Indonesia’s economic growth during the period of 2015–2024. Economic growth is used as the dependent variable, while interest rates, exchange rates, and inflation are independent variables due to their role as macroeconomic policy instruments influencing consumption, investment, and national economic stability. This study uses annual secondary data obtained from the Central Bureau of Statistics (BPS) and Bank Indonesia, analyzed using multiple linear regression. The results indicate that interest rates, exchange rates, and inflation have negative and significant effects on economic growth, both partially and simultaneously. High interest rates suppress investment and consumption, depreciation of the rupiah increases import costs, and high inflation reduces consumer purchasing power. Simultaneously, these three variables explain a substantial portion of Indonesia’s economic growth variation. These findings highlight the importance of coordinated monetary policy, exchange rate stability, and inflation control in supporting sustainable economic growth.