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The Fed's decision gives positive responses: Hatta
Coordinating Economic Minister Hatta Rajasa said the US Federal Reserve (Fed)âs decision to delay its monetary stimulus reduction gave positive responses marked with the strengthening of the rupiah exchange rate and the Jakarta Composite Index (JCI)
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oordinating Economic Minister Hatta Rajasa said the US Federal Reserve (Fed)'s decision to delay its monetary stimulus reduction gave positive responses marked with the strengthening of the rupiah exchange rate and the Jakarta Composite Index (JCI).
'With such a decision, as you can see, the condition improved and our rupiah strengthened,' he said in Jakarta on Thursday as quoted by Antara news agency.
Hatta said with the decision, the condition of markets in developing countries could be more stable and comfortable after sharply fluctuating, following the circulating of the Fed's stimulus reduction plan announced in May.
The minister further said that the government also prepared measures to anticipate various possibilities, supposing that the Fed would, at the end, reduce its quantitative easing (QE) worth US$85 billion.
'We cannot dictate what will be done by other countries. The most important thing is, we have to be ready to face any decision taken by the Fed, and the government will prepare to anticipate any possibilities,' he said.
The JCI closed Thursday's trading session on a high note, jumping 4.65 percent to 4,670.7, kontan.co.id reported.
The rupiah exchange rate on Thursday afternoon appreciated by 469 points to Rp 10,855 per US dollar from Rp 11,324. (ebf)
