Pengaruh Tingkat Inflasi, Nilai Tukar Rupiah, dan Suku Bunga Sertifikat Bank Indonesia terhadap Indeks Harga Saham Gabungan pada Bursa Efek Indonesia

This study aims to examine the effect of Indonesia's macroeconomic indicators, namely inflation, SBI interest rates, and exchange rates on the Composite Stock Price Index (IHSG) on the Indonesia Stock Exchange. The research period used was from 2013 to 2014. The object of this research is the Composite Stock Price Index in the Indonesia Stock Exchange. The data used is secondary data, with the data analysis method used is multiple linear regression analysis with a significant level of 0.05. The results of this study indicate that: (1). The simultaneous variable effect of inflation, BI Rate (SBI interest rate) and exchange rate (rupiah exchange rate) on the Composite Stock Price Index on the Indonesia Stock Exchange for the period 2013 to 2017, with a calculated F value of 8,238 with a significant level of 0,000. that is, the independent variables influence simultaneously with a significance level of almost no errors on the dependent variable, and also indicated by an R square adjustment of 0.269, which means that the dependent variable is influenced by the independent variable by 26.9%. (2). Inflation partially has a negative effect on the JCI of 0.204, but not significant because the significance level is 0.486 and exceeds the tolerance limit of 0.05. (3). The exchange rate partially had a negative effect on the JCI by 0.728. Changes in exchange rates have a significant effect on the JCI with a significance level of 0.000. (4). The BI Rate partially has a negative effect on the JCI, which is 0.037, but not significant because the significance level is 0.929 and exceeds the tolerance limit of 0.05. Keywords: Inflation, SBI Interest Rates, Exchange Rates, Standard Composite Stock Price Inde