PENGARUH TINGKAT INFLASI, NILAI TUKAR RUPIAH DAN SUKU BUNGA SERTIFIKAT BANK INDONESIA TERHADAP INDEKS HARGA SAHAM GABUNGAN PADA BURSA EFEK INDONESIA

The purpose of this study was to determine the effect of the inflation, exchange rate, and Bank Indonesian Certificate rate on Composite stock price index (CPSI). The research was conducted on the stock exchange by using sample of 120 consisted of the entire variable monthly data during 2 006 – 2015, with the selection of the sample through a non probability sampling method by purposive sampling method, and the data were analyzed with multiple linear regression analysis techniques.based on the analysis found inflation, exchange rates, and B ank Indonesian Certificate rate simultaneously affect the CPSI. Inflation , exhange rate partially significant negative effect on the CPSI, this means an increase inflation and exchange rate may result decrease value of CPSI, whereas SBI interest rate pa rtially insignificant positive effect on CPSI. This means that the increase occured in SBI interst rate can increase the value of CPSI. Key Words : CSPI , inflation, exchange rate, Bank Indonesian Certificate interes