BI Board of Governor's Meeting, November 2022

Jahen Rezki, Syahda Sabrina (syahda.sabrina@lpem-febui.org), Nauli A. Desdiani (nauli.desdiani@lpem-febui.org), Teuku Riefky, Amalia Cesarina, Meila Husna (meila.husna@lpem-febui.org) and Faradina Alifia Maizar (faradina@lpem-febui.org)
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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 202211, LPEM FEBUI BI Board of Governor Meeting Brief from LPEM, Faculty of Economics and Business, University of Indonesia

Abstract: Although easing due to lower food prices, inflation is still far above BI’s target range at 5.95% (y.o.y) in October 2022, following the increase in subsidized fuel prices in early September 2022. On top of that, Rupiah continued to depreciate to IDR15,487 per US Dollar in mid-November. Globally, the Fed is expected to continue its rate hike rally in December, although at a slower pace. These three combined suggested that BI still need to increase its policy rate by 50bps this month to 5.25% in an effort to manage inflation expectation and to keep Rupiah stable. Robust economic growth in Q3-2022, supported by intact household consumption growth, provides justification for BI to continue its monetary tightening cycle.

Keywords: gdp; —; economic; —; economic; outlook; —; inflation; —; macroeconomics; —; interest; rate (search for similar items in EconPapers)
Date: 2022-11, Revised 2022-11
New Economics Papers: this item is included in nep-des and nep-sea
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