BI Board of Governor's Meeting, December 2021

Jahen Rezki, Syahda Sabrina (), Nauli A. Desdiani (), Teuku Riefky, Amalia Cesarina, Meila Husna () and Faradina Alifia Maizar ()
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Syahda Sabrina: Institute for Economic and Social Research, Faculty of Economics and Business, Universitas Indonesia (LPEM FEB UI)
Nauli A. Desdiani: Institute for Economic and Social Research, Faculty of Economics and Business, Universitas Indonesia (LPEM FEB UI)
Meila Husna: Institute for Economic and Social Research, Faculty of Economics and Business, Universitas Indonesia (LPEM FEB UI)
Faradina Alifia Maizar: Institute for Economic and Social Research, Faculty of Economics and Business, Universitas Indonesia (LPEM FEB UI)

No 202112, LPEM FEBUI BI Board of Governor Meeting Brief from LPEM, Faculty of Economics and Business, University of Indonesia

Abstract: Domestic economic activity continues to improve, in line with improving public confidence as captured by rising inflation as well as the CCI and PMI. However, the rise in Covid-19 new cases in several countries due to the novel Omicron variant that appears to be spreading faster poses a very high global risk, which could triggering a new wave. The retightening of government-imposed social restriction and lockdown are becoming inevitable, and these jeopardize any recovery that global supply chains have made around the world. Global market risks have also risen in the last month as a result of earlier monetary policy tightening due to the trend of rising inflation. Government’s effort to prevent massive spike in Omicron cases is critical in order to maintain the economic recovery momentum. Meanwhile, BI needs to maintain Rupiah amid economic recovery by holding the benchmark interest rate at 3.50% this month.

Keywords: gdp; —; economic; —; economic; outlook; —; inflation; —; macroeconomics; —; interest; rate (search for similar items in EconPapers)
Date: 2021-12, Revised 2021-12
New Economics Papers: this item is included in nep-mac and nep-sea
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