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View all search resultsProfessionalism will continue in monetary policymaking, Bank Indonesia (BI) Governor Perry Warjiyo has promised, seeking to allay any concerns following Deputy Finance Minister Thomas “Tommy” Djiwandono’s nomination as a deputy BI governor.
The US dollar held steady on Wednesday but was headed for its biggest annual drop since 2017 as interest rate cuts, fiscal worries and erratic trade policies under US President Donald Trump cast a shadow on currency markets in 2025.
The US dollar was headed for its worst annual performance in more than two decades on Wednesday as investors wagered the Federal Reserve would have room to cut rates further next year even as some of its peers looked set to hike.
Asian stocks fell and the dollar was steady on Tuesday as investors braced for a cut in US interest rates later this week while the yen was calm after a powerful earthquake rocked Japan's northeast region though the impact was limited.
Gold pushed through US$4,000 an ounce to hit a record on Wednesday, driven by investors seeking safety from mounting economic and geopolitical uncertainty, alongside expectations of further interest rate cuts by the US Federal Reserve.
Bank Indonesia's rate cut this week stunned markets for all the wrong reasons - investors fear the central bank is bowing to pressure from President Prabowo Subianto to juice the economy, compromising its independence and risking a rupiah sell-off.
The Indonesia Stock Exchange (IDX) Composite index fell as much as 3.6 percent to 7,551 points at the open on Monday, as a week of political unrest in Jakarta rattled investor sentiment, before trimming losses to 7,612 within 10 minutes of trade.
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