BI Board of Governor Meeting

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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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The continuation of supply chain disruption and energy shortage as the impact of Russia and Ukraine’s conflict in various parts of the world have put pressures on the global inflation and the economic recovery process. Domestically, it has started to have impact as the inflation rate is also expected to accelerate this month like its...
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The global economy was not particularly in good condition recently. The uneven domestic demand recovery, continuation of supply chain disruption, and energy shortage in various parts of the world have created an inflation problem that serves as a hiccup to Covid-19 economic recovery. The outbreak of war served as fuel to the flame of current...
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