BI Board of Governor's Meeting, January 2023

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 202301, LPEM FEBUI BI Board of Governor Meeting Brief from LPEM, Faculty of Economics and Business, University of Indonesia

Abstract: Pressured by increasing global energy and food prices combined with seasonal patterns of Christmas and year-end festivity, Indonesia ended 2022 with headline inflation of 5.51% (y.o.y), making the full 2022 headline inflation far above BI’s target corridor. Meanwhile, Rupiah experienced slight appreciation in mid-January to around IDR15,100 per US Dollar supported by modest capital inflows due to cooling inflation in most economies and less aggressive stance by most central banks. The Fed is expected to continue its hawkish stance in early 2023. These three combined suggested that BI still need to increase its policy rate this month by 25bps in an effort to maintain Rupiah stability as well as reducing inflationary pressure.

Keywords: gdp; —; economic; —; economic; outlook; —; inflation; —; macroeconomics; —; interest; rate (search for similar items in EconPapers)
Date: 2023-01, Revised 2023-01
New Economics Papers: this item is included in nep-des and nep-sea
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