Indonesia central bank to continue accommodative policy to boost monetary growth
Indonesia’s central bank plans to maintain its accommodative monetary policy this year to support economic growth, said Bank Indonesia Governor Perry Warjiyo on Wednesday.
"All Bank Indonesia's policy instruments are focused on keeping and strengthening the economic growth momentum," Warjiyo told a news conference. "Accommodative monetary policy continues,"
Bank Indonesia (BI) has targeted the economy to grow at 5.1%-5.5% this year, a slight increase from 5.1% expected for 2019.
Stronger economic growth, low inflation, and foreign inflows had resulted in the Rupiah being a strong currency, Warjiyo said, adding that the appreciation “reflects the credibility” of BI and the government’s policies.
The Rupiah was 0.07% weaker on Wednesday, trading at 13,660/USD by 0306 GMT.
BI's head of monetary management said earlier on Wednesday that the central bank "stands ready" to intervene in spot foreign exchange, bonds and domestic non-deliverable forward markets to guard the strength of the Rupiah.
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
Asian stocks advanced on the prospect of ultra-easy monetary policy as the U.S. Federal Reserve kept interest rates near zero. Fed deemed it necessary to salvage the ailing economy, dragging the dollar down to a two-year low. The target range ...
The dollar sat near two-year lows on Wednesday as the United States struggled to control the coronavirus outbreak, breaking hopes for a fast economic recovery. The gloomy outlook for the U.S. economy is expected to urge the Federal Reserve ...
Indonesia on Wednesday rolled out a 100 trillion Rupiah ($6.92 billion) loan guarantee scheme for prioritized businesses to keep them afloat as the COVID-19 situation continued to worsen around the world, the country’s finance minister ...