BI Board of Governor's Meeting, February 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 202302, LPEM FEBUI BI Board of Governor Meeting Brief from LPEM, Faculty of Economics and Business, University of Indonesia

Abstract: Massive inflationary pressures last year, were met by consistent monetary tightening efforts by Bank Indonesia since last August. As a result, headline inflation continued to decline and stood at 5.28% (y.o.y) in January 2023. The rapid capital inflow since mid-January, has lifted Rupiah to its strongest level of IDR14,875 in early February and currently stabilized at around IDR15,090. Considering these factors, in addition to the current less aggressive stance by the Fed, we view that holding policy rate at 5.75% this month should be adequate to maintain price and exchange rate stability while continuing the macroprudential measures without jeopardizing the current economic growth momentum.

Keywords: gdp; —; economic; —; economic; outlook; —; inflation; —; macroeconomics; —; interest; rate (search for similar items in EconPapers)
Date: 2023-02, Revised 2023-02
New Economics Papers: this item is included in nep-des and nep-sea
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