Macroeconomic Analysis Series: BI Board of Governors Meeting, October 2024

Jahen F. Rezki (), Teuku Riefky (), Faradina Alifia Maizar () and Difa Fitriani ()
Additional contact information
Jahen F. Rezki: Institute for Economic and Social Research, Faculty of Economics and Business, Universitas Indonesia (LPEM FEB UI)
Teuku Riefky: 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)
Difa Fitriani: Institute for Economic and Social Research, Faculty of Economics and Business, Universitas Indonesia (LPEM FEB UI)

No 202410, LPEM FEBUI BI Board of Governor Meeting Brief from LPEM, Faculty of Economics and Business, University of Indonesia

Abstract: In September 2024, Indonesia’s headline inflation eased to 1,84% (yoy) from 2,12% in August 2024, marking the lowest level since December 2021, mainly driven by a decline in volatile food prices. Core inflation edged up to 2,09% (yoy), driven by higher prices of ground coffee and education. In addition, the Fed began its monetary easing cycle by cutting its policy rate by 50bps last month, almost in line with BI cutting its policy rate by 25bps. Recent developments show that the Rupiah is stable at around Rp15.660/USD, despite depreciating amid capital outflows influenced by geopolitical tensions and uncertainty surrounding the US election. Although foreign exchange reserves fell to USD149,9 billion, Bank Indonesia is expected to maintain the BI rate at 6,00% at its October meeting. Any potential room for further policy cuts should be reserved to address the risk of a prolonged deflationary trend.

Keywords: gdp; —; economic; —; economic; outlook; —; inflation; —; macroeconomics; —; interest; rate (search for similar items in EconPapers)
Date: 2024-10, Revised 2024-10
References: Add references at CitEc
Citations:

Downloads: (external link)
https://lpem.org/repec/lpe/queouts/BBG202410.pdf First version, 2024 (application/pdf)
Our link check indicates that this URL is bad, the error code is: 404 Not Found

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:lpe:gomeet:202410

Access Statistics for this paper

More papers in LPEM FEBUI BI Board of Governor Meeting Brief from LPEM, Faculty of Economics and Business, University of Indonesia Contact information at EDIRC.
Bibliographic data for series maintained by Bintoro Seto ().