Bank Indonesia (BI) will introduce a new policy for local banks to match interest rates offered by foreign lenders, in a move to persuade exporters to keep their foreign exchange (forex) earnings at home in order to beef up the country’s reserves and maintain the rupiah’s stability.

Bank Indonesia (BI) has again raised its interest rates, albeit by its lowest increment since it started the series of hikes in August, as policymakers forecast an easing in external pressure in 2023.

An agreement between the government and Bank Indonesia (BI) to collaborate on financing the deficit will end this year, as the Finance Ministry promises not to extend the policy to 2023, following greatly improved economic and pandemic conditions that make such measures less urgent for the near future.

Despite facing many possible setbacks throughout 2022, Indonesia is still poised to accomplish its fiscal-consolidation plan in time, providing the country with a better foothold to withstand whatever looming global uncertainty will throw against it next year.

A newly ratified omnibus law on the financial sector will formalize Bank Indonesia’s (BI) role in helping to finance the fiscal deficit in times of crisis, which economists believe could undermine the central bank’s independence and the government’s efforts to maintain fiscal discipline.

Indonesian government is finalizing an incentive scheme for the purchase of electronic vehicles (EVs) produced by manufacturers inside the country, in a bid to force industry players into realizing their investment.

Indonesia's parliament on Thursday voted to approve financial legislation that widens the central bank's mandate to include supporting sustainable economic growth and formalize its debt monetization operations.

After all-night negotiations, the European Union struck a political deal on Tuesday to impose a carbon dioxide emissions tariff on imports of polluting goods such as steel and cement, a world-first scheme aiming to support European industries as they decarbonize.

The WTO panel ruled in favour of the EU last month, saying that neither the prohibition of nickel exports nor a domestic processing requirement requiring all nickel ore to be refined in Indonesia were in line with global trade rules, prompting President Joko "Jokowi' Widodo to say that his country would appeal the ruling. 

Russia will be invited to attend meetings of the Asia-Pacific Economic Cooperation (APEC) bloc hosted by the United States next year, a US official said on Monday.

Foreigners who have lived in Indonesia for years or decades are anxious about new visa rules that will kick in later this month and require that retirees hold substantial funds in the country.

The government and the House of Representatives have reinstated a ban on party politicians running for executive posts at the country's monetary or financial institutions, which was eliminated in the 2004 revision of the Bank of Indonesia Law.

The House of Representatives and government have agreed on a clause in a new financial bill to allow former politicians to stand as central bank governor, three sources familiar with the discussions told Reuters.

The American Chamber of Commerce in Indonesia (AmCham) has called on the government to reform issues inhibiting US investment in Indonesia.

Congressmen Sandro Marcos and Martin Romualdez -- the president's son and cousin respectively -- are among the six authors of the bill filed to the House of Representatives and will be examined by several committees before being debated in the house.

The European Union agreed on Tuesday on a new law to prevent companies from selling into the EU market soy, beef, coffee and other commodities linked to deforestation around the world.

The country's EV industry association is optimistic that the government's plan to issue a purchase subsidy for electric motorcycles, possibly with one for electric cars to follow, will drive local EV adoption.

The European Union should file a complaint with the World Trade Organization (WTO) in the next few months regarding the United States' green energy subsidy package, the head of the European Parliament's trade committee was reported as saying on Sunday.

The EU agreed the price after holdout Poland gave its support, paving the way for formal approval over the weekend.

Bank Indonesia has announced that its roadmap for the country’s own central bank digital currency (CBDC) named the “digital rupiah” will start with a wholesale design, in a move that may bring the country closer to finally implement the long-awaited digital currency.

Bank Indonesia (BI) Governor Perry Warjiyo emphasized on Wednesday the need to adjust interest rates early to control inflation, which is near its highest rate in seven years.

Yoon held a video call with Tesla Chief Executive Elon Musk last week and Yoon's office cited Musk as saying South Korea is among the top candidate locations for a new Tesla factory. 

Industry leaders in the food commodities sector have raised prevailing issues with the SNNK, including product categories in the HS Code and the requirement to submit a whole-year import plan.

The Financial Services Authority (OJK) has extended the loan-restructuring program for certain businesses that it believes still require more time to recover from the COVID-19 pandemic and to withstand a global slowdown next year. 

Informed by the hefty cost overruns of the Jakarta-Bandung railway project, the proposed regulation appears aimed at avoiding a repeat of mistakes in future high-speed rail development.

In the deliberation of the financial sector bill, the government has proposed changes that would ban political party figures from sitting on boards of the central bank and other watchdogs after the draft initiated by lawmakers had raised concerns about the bodies’ independence.

Earlier on Thursday representatives of the EU's 27 governments met in Brussels to discuss a G7 proposal to set the price cap in the range of $65-$70 per barrel, but the level proved too low for some and too high for others.

The government issues new rules for determining minimum wages as labor and business fail to find common ground.

A new bill currently being deliberated looks set to legalize bullion bank services in the country, but experts warn such a step may carry risks for the country’s financial system and are urging the authorities to set up measures to contain the risks.

The government has admitted that the World Trade Organization ruling on its nickel export ban was in favor of the European Union but vows to appeal in a process that could buy the country years of time to build up domestic processing industries.