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Macroeconomic Analysis Series: BI Board of Governor Meeting, February 2024

Author

Listed:
  • 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))

Abstract

Headline inflation fell to 2,57% (yoy) in January 2024, approaching the midpoint of the new target of 2,5%. The reduced impact of the El-Nino weather phenomenon on food prices, the distribution of social assistance to control food volatility, and the reduced impact of end-of-year seasonality pushed inflation down in the first month of 2024. The trade balance is still in positive territory even though it has declined since April 2022. Considering The Fed will not reduce its policy interest rate in the near future, we think BI should maintain the BI Rate at 6,00% this month to maintain exchange rate stability.

Suggested Citation

  • Jahen F. Rezki & Teuku Riefky & Faradina Alifia Maizar, 2024. "Macroeconomic Analysis Series: BI Board of Governor Meeting, February 2024," LPEM FEBUI BI Board of Governor Meeting Brief 202402, LPEM, Faculty of Economics and Business, University of Indonesia, revised Feb 2024.
    • Handle: RePEc:lpe:gomeet:202402
    as

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    File URL: https://lpem.org/repec/lpe/queouts/BBG202402.pdf
    File Function: First version, 2024
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