This study aims to analyze the effect of inflation and interest Rates on stock Returns of banking companies listed on the Indonesia Stock Exchange for the 2020–2025 period using quantitative methods and secondary data obtained from official publications of Bank Indonesia, the Indonesia Stock Exchange, and Yahoo Finance. The population in this study includes all banking companies listed on the Indonesia Stock Exchange, while the research sample was selected using a purposive sampling technique based on the criteria of data completeness, active stock trading, and consistent positive stock Returns during the observation period. The variabel s used consist of the independent variabel s, namely inflation and interest Rates, and the dependent variabel , namely stock Returns. Data analysis was conducted through a series of model specification tests, classical assumption tests, and panel data regression analysis using the Common Effect Model. The results show that inflation has no significant effect on banking stock Returns, while interest Rates have a significant effect on banking stock Returns. Simultaneously, inflation and interest Rates have a significant effect on stock Returns of banking companies listed on the Indonesia Stock Exchange for the 2020–2025 period.
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