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View all search resultsNew BI governor puts stability as top agenda
Destry was inaugurated on Sept. 2, alongside newly appointed senior deputy governor Aida S. Budiman and deputy governor Solikin M. Juhro, with all three appointed for five-year terms.
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Destry Damayanti, Indonesia’s newly appointed central bank governor, speaks during a press conference after her inauguration on Sept. 2 at the Supreme Court building in Jakarta. (Reuters/Ajeng Dinar Ulfiana)
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ewly appointed Bank Indonesia (BI) Governor Destry Damayanti said that she will prioritize macroeconomic stability amid heightened global uncertainty while keeping policy geared toward growth.
Destry, who formally took office after being sworn in at the Supreme Court on Wednesday, said the global economy was still facing a higher interest rate environment for a longer period, with persistent uncertainty likely to weigh on the country’s economic outlook.
“Stability is critical because a stable economy widens the room for economic growth,” Destry said after her inauguration.
“If you ask what our policy stance will be moving forward, our first priority is naturally safeguarding stability, but we will calibrate which instruments lean pro-stability and which lean pro-growth.”
Read also: Inflation accelerates while House approves new BI governor
Rising global bond yields, which have put pressure on financial markets, would be among the issues considered at the next monetary policy meeting, Destry said, as major economies continued to face high inflation and interest rates.
“This is in line with our latest assessment. We are indeed facing a ‘higher for longer’ environment, with elevated bond yields and high inflation in advanced economies,” Destry said.
