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View all search resultsQuest for Bank Indonesia's macroprudential policy
Three important monetary events have taken place during the last two months, and all could affect the outlook of Indonesia’s monetary policy.
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Bank Indonesia's headquarters on Jl. MH Thamrin, Central Jakarta (JP/Wienda Parwitasari)
T
hree important monetary events have taken place during the last two months, and all could affect the outlook of Indonesia’s monetary policy.
The United States Federal Reserve (Fed) raised its rates in the middle of March, followed by Bank Indonesia’s (BI) decision to keep its benchmark rate in the end of the month and the appointment of the central bank’s new governor.
The Fed raised its benchmark interest rate by 15 basis points (bps) to a range between 1.5 percent and 1.75 percent. The rate was expected to further increase to the level of 5 percent before the 2008 global financial crisis.
The US rate hike resulted in the fall in global stock and currencies, including the rupiah, which fell by 2.6 percent against the US dollar at the end of March, with high volatility of 8.3 percent.
