Bank Indonesia governor Perry Warjiyo gives a press conference after an annual meeting of the central bank in Jakarta on November 27 (Source: en.antaranews.com) Jakarta (VNA) - Bank Indonesia (BI) said on November 27 that itwill continue to adopt its pre-emptive and ahead-of-the-curve monetary policyin a bid to maintain economic stability amid the high external pressure in 2019.
"We will maintain the pre-emptive and ahead-of-the-curvemonetary stance. The focus of the monetary policy will continue on stabilityespecially to control inflation and exchange rate," ANTARA News quoted BI GovernorPerry Warjiyo as saying at an annual meeting of the central bank.
Perry said based on evaluation of the economy in 2018, the central bank wouldincrease its policy mix.
"Although the bank will continue to focus its monetarypolicy more on stability, its macro-prudential policy, payment system andsharia economy would be accommodated to shore up economic growth," headded.
The pre-emptive and ahead-of-the-curve monetary policy isalso aimed at reducing the current account deficit to 2.9 percent of the GDP in2019, after widening in 2018 as a result of a surge in imports.
Perry pledged while focusing monetary policy on pro-stability,the central bank would seriously seek to maintain adequate liquidity in thefinancial market.
"Stability would continue to be a priority throughdouble intervention in the foreign exchange market. Adequacy of foreignexchange reserve would be maintained to prop up rupiah stability. Cooperationin swap agreement in the banking sector would be strengthened," he said.
Three important records evaluated by the central bank in 2018included the strengthening of domestic economic resilience, low inflation,rupiah stability, safe fiscal deficit, and financial system stability; increasein competitiveness, industrialisation, exports, and investment; and theenhancement of synergy.-VNA
"We will maintain the pre-emptive and ahead-of-the-curvemonetary stance. The focus of the monetary policy will continue on stabilityespecially to control inflation and exchange rate," ANTARA News quoted BI GovernorPerry Warjiyo as saying at an annual meeting of the central bank.
Perry said based on evaluation of the economy in 2018, the central bank wouldincrease its policy mix.
"Although the bank will continue to focus its monetarypolicy more on stability, its macro-prudential policy, payment system andsharia economy would be accommodated to shore up economic growth," headded.
The pre-emptive and ahead-of-the-curve monetary policy isalso aimed at reducing the current account deficit to 2.9 percent of the GDP in2019, after widening in 2018 as a result of a surge in imports.
Perry pledged while focusing monetary policy on pro-stability,the central bank would seriously seek to maintain adequate liquidity in thefinancial market.
"Stability would continue to be a priority throughdouble intervention in the foreign exchange market. Adequacy of foreignexchange reserve would be maintained to prop up rupiah stability. Cooperationin swap agreement in the banking sector would be strengthened," he said.
Three important records evaluated by the central bank in 2018included the strengthening of domestic economic resilience, low inflation,rupiah stability, safe fiscal deficit, and financial system stability; increasein competitiveness, industrialisation, exports, and investment; and theenhancement of synergy.-VNA
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