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Central banks remain vigilant over Brexit effect: BI
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Vice President Jusuf Kalla (center) walks with Bank Indonesia Governor Agus Martowardojo (right) during the bank's annual meeting at the Jakarta Convention Center on Tuesday evening. (The Jakarta Post/Jerry Adiguna)
T
he central banks of 30 nations have agreed to strengthen cooperation to maintain the stability of financial markets after the UK voted to exit the European Union, Bank Indonesia Governor Agus Martowardojo said recently.
The agreement was concluded in the Global Economic Meeting, a part of the annual meeting of the Bank for International Settlement (BIS) in Basel, Switzerland, on June 26. BIS brings together central bank governors from 30 of the largest economies, which account for about 80 percent of global gross domestic product.
Agus said the BIS meeting discussed the implications of the UK referendum for the global economy along with anticipative measures that have been prepared by Britain's central bank, the Bank of England.
“The central bank governors have expressed their commitment to keep strengthening cooperation and monitoring the liquidity and the stability of financial market,” he said in a press statement on Monday in Jakarta.
Bank Indonesia, Agus further explained, would keep monitoring any risk that Brexit may pose to Indonesia’s economy and prepare the necessary anticipative measures.
The central bank also tightened cooperation with the government, the Financial Services Authority (OJK) and the Deposit Insurance Corporation (LPS), as well as with central banks in other countries, he said. (ags)
