The Effect of Inflation and BI Rate on The Banking Sector Stock Price Index

Priandika Firnanda; Zulkarnain; Fefti yulian  Mela

doi:10.68376/MANTRA.v1.i1.a87

Authors

Priandika Firnanda Accounting Study Program, Faculty of Economics, University of Pasir Pengaraian, Indonesia Author
Zulkarnain Accounting Study Program, Faculty of Economics, University of Pasir Pengaraian, Indonesia Author
Fefti yulian Mela Accounting Study Program, Faculty of Economics, University of Pasir Pengaraian, Indonesia Author

DOI:

https://doi.org/10.68376/MANTRA.v1.i1.a87

Keywords:

Inflation, BI Rate, Infobank15 Stock Price Index, Banking Sector

Abstract

This study aims to analyze the effect of inflation and the Bank Indonesia interest rate (BI Rate) on the Infobank15 Stock Price Index, which represents conventional banking companies listed on the Indonesia Stock Exchange, during the period from January 2022 to December 2024. This study employed a quantitative approach using monthly secondary data collected over a 36-month period, obtained from Statistics Indonesia (BPS), Bank Indonesia, and Investing.com. Data analysis was conducted using multiple linear regression, with hypothesis testing performed through the t-test, F-test, and the coefficient of determination (R²), using SPSS software. The results indicate that, partially, inflation has a significant effect on the stock price index, while the BI Rate does not have a significant partial effect. Simultaneously, inflation and the BI Rate jointly have a significant effect on the stock price index, with an Adjusted R Square of 0.120, indicating that the two variables jointly explain 12.0% of the variation in the stock price index.

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