BI Board of Governor Meeting

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Although easing due to lower food prices, inflation is still far above BI’s target range at 5.95% (y.o.y) in October 2022, following the increase in subsidized fuel prices in early September 2022. On top of that, Rupiah continued to depreciate to IDR15,487 per US Dollar in mid-November. Globally, the Fed is expected to continue its rate hike rally...
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Inflation continues to soar above the BI’s target range after the adjustment of subsidized fuels prices in early September 2022. The price level of energy and transportation sectors recorded the highest jump in September 2022 amid the persistently high global energy and food prices. The increase in price level slightly corrected the consumers’ confidence despite...
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Athough inflation eased in August 2022, it is still well above BI’s target range and expected to accelerate in the remaining months of 2022 following the fuel price hike. From external side, the Fed’s aggressive move on interest rate hikes, combined with external pressures, will continue to have an adverse impact on emerging markets, including...
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A midst a bleak outlook for global growth and elevated inflation level everywhere, Indonesia’s economy has shown a more optimistic attitude in the remainder of the year. The economy grew by 5.44% (y.o.y) in Q2-2022, better-than-expected and well above many consensus. Core inflation remained relatively benign compared to headline inflation, although we projected the trend...
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Despite exceeding past BI’s target, the surge in prices in June 2022 is mainly cost-push, primarily driven by price of volatile commodities. On the other hand, core inflation stood at a rather safe rate under the BI’s target. Looking at the macroeconomic indicators, economic recovery appeared to be on track, indicated by the level of...
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Despite rising global inflationary pressures in most countries due to soaring global food and energy prices and supply chain disruptions, domestic inflation remains under control, mainly driven by supply-side inflation underpinned by higher Producer Price Index (PPI) inflation that has been above Consumer Price Index (CPI) inflation since 2020. Domestically, we are still on a...
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The higher consumption due to the fasting month of Ramadhan and ahead of Eid-al-Fitr celebration coupled with the soaring commodity prices during the inflationary pressures have contributed to high headline inflation in April, with the highest contribution coming from volatile and food ingredients components. In contrast, energy prices were still manageable as the GoI continued...
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