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BI to focus on macro economy

BI to focus on macro economy

(17 August 2015 – Indonesia)  Bank Indonesia (BI) governor Agus Martowardojo said the central bank will continue to focus on maintaining the stability of the macro economy while dealing with pressure from the foreign currencies.

He said there was ongoing pressure from the appreciation of the United States dollar while at the other end of the scale the yuan had devalued.

“The ongoing pressure from the dollar’s appreciation can be overcome if our economic fundamentals are also good.

“Our policies must be consistent and create synergy with the real sector.

“The policies also must be timely and measurable,” said Agus.

He said US economic improvements would continue but would not be as good as projected.

Statements by US Federal Reserve officials also indicated that the bank’s rate would be increased.

In maintaining macro stability, there should be coordination among institutions such as BI, the Finance Ministry, the Financial Services Authority (OJK) and the Deposit Insurance Corporation (LPS), which are all united in the Financial Sector Stability Coordination Forum (FKSSK), said Agus.

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