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BI Board of Governor's Meeting, January 2023

Author

Listed:
  • Jahen F. Rezki

    (Institute for Economic and Social Research, Faculty of Economics and Business, Universitas Indonesia (LPEM FEB UI))

  • 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))

  • Teuku Riefky

    (Institute for Economic and Social Research, Faculty of Economics and Business, Universitas Indonesia (LPEM FEB UI))

  • Amalia Cesarina

    (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))

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.

Suggested Citation

  • Jahen F. Rezki & Syahda Sabrina & Nauli A. Desdiani & Teuku Riefky & Amalia Cesarina & Meila Husna & Faradina Alifia Maizar, 2023. "BI Board of Governor's Meeting, January 2023," LPEM FEBUI BI Board of Governor Meeting Brief 202301, LPEM, Faculty of Economics and Business, University of Indonesia, revised Jan 2023.
    • Handle: RePEc:lpe:gomeet:202301
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    File URL: https://www.lpem.org/repec/lpe/queouts/BBG202301.pdf
    File Function: First version, 2023
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    More about this item

    Keywords

    gdp — economic — economic outlook — inflation — macroeconomics — interest rate;

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