Suchergebnisse

Developments in the global economy suggest a gathering momentum in the recoveryprocess, although still daunted by risks. process, although still daunted by risks. In developed nations, various indicators of macroeconomic recovery have shown an improving trend. Government-sponsored stimulus packages and financial sector stabilisation programmes have successfully bolstered public confidence, and in turn strengthened consumption. Conditions on credit markets have also begun to improve in an added development encouraging greater private consumption. Despite this, stubbornly high levels of unemployment pose risks daunting the economic recovery process in these nations. On the other hand, economic recovery is gaining momentum in emerging market countries, led by China, India and Korea. Investment activity in China, under way since the beginning of the year, is supported by a fiscal stimulus through infrastructure spending and brisk credit expansion Resurgent domestic demand in these Asian economies has stimulated improved economic performance in other countries in the region. Despite this, the economic improvement in some emerging market countries is not yet regarded sufficient to compensate for the slowdown in advanced economies. In response to these developments, further contraction is predicted in the global economy, although at a lesser pace.

Indonesia's economy performed an under-controlled economic stability and was sustained by the economic adjustment in quarter I 2014. During the period, inflation was in the declining trend along with smaller current account deficit. The capital inflow also increased along with the improvement of economic fundamental which in turn contributed to the appreciation of Rupiah's exchange rate. Accordingly, domestic demand was well-managed, even though the growth performed a sharp decrease and was lower than expected as the impact of real export contraction from mining sector. The development was not apart from the policy consistency taken by Bank Indonesia and the government since the mid 2013 to strengthen the economic stability and managed the growth to run proportionally and sustainably.

Indonesia's economy in the first quarter 2013 growth slowed compared to the previous quarter. Economic growth stood at 6.02% (yoy), lower than the previous quarter grew by 6.11% (yoy). A source of slowing growth came from domestic demand amid declining export performance. Slowing growth in household consumption was due to the decrease in purchasing power as a result of an increase in inflationary pressures, especially food. In addition, government consumption growth is relatively low, due to the limited uptake of spending, especially spending on goods. A decline also occurred in investment performance, particularly non-construction that is influenced by limited domestic and international demand outlook. Decline in investment performance is in line with the decline in business optimism. In non-construction investment, there is reduced performance in machinery investment, in line with the slowdown in the imports of capital goods. In contrast, exports showed improvement, supported by strengthening expectations of global economic recovery and rising volume of world trade. Response to slowing domestic demandsaw a contraction in imports. Sources of downward import pressure are from the imports of raw materials and capital goods, mainly raw materials for the industrial and passenger vehicle industry which has seen a slowdown and moderation in response to motor vehicle sales.

The Board of Governors Meeting (Rapat Dewan Gubernur/RDG) of Bank Indonesia on 12 April 2011 has decided to maintain the BI rate by 6.75%. This decision does not change the direction of Bank Indonesia's monetary policy which tends to be strict in an effort to control the inflationary pressures that are still high, amid the government efforts to reduce inflationary pressure from volatile foods group. The Board of Governors considered that the strengthening of the rupiah so far can reduce these inflationary pressures, particularly from the rising price of international commodities (imported inflation). In addition, to minimize the negative impact of short-term foreign capital flows on monetary stability and financial system, the Board of Governors also has decided to replace the one-month holding period on SBI to six-month holding period, which shall take effect on May 13, 2011. Looking ahead, Bank Indonesia assessed that the possibility of the BI rate level adjustment is still open to dampen the incoming inflationary pressures. Bank Indonesia believed that the implementation of monetary and macro-prudential policy mix, supported also by the strengthened coordination of government policy, will be able to maintain the macroeconomic stability and bring inflation to the target, which are 5% ± 1% in 2011 and 4.5% ± 1% in 2012.

The Board of Governors Meeting (Rapat Dewan Gubernur/RDG) of Bank Indonesia on 12 April 2011 has decided to maintain the BI rate by 6.75%. This decision does not change the direction of Bank Indonesia»s monetary policy which tends to be strict in an effort to control the inflationary pressures that are still high, amid the government efforts to reduce inflationary pressure from volatile foods group. The Board of Governors considered that the strengthening of the rupiah so far can reduce these inflationary pressures, particularly from the rising price of international commodities (imported inflation). In addition, to minimize the negative impact of short-term foreign capital flows on monetary stability and financial system, the Board of Governors also has decided to replace the one-month holding period on SBI to six-month holding period, which shall take effect on May 13, 2011. Looking ahead, Bank Indonesia assessed that the possibility of the BI rate level adjustment is still open to dampen the incoming inflationary pressures. Bank Indonesia believed that the implementation of monetary and macro-prudential policy mix, supported also by the strengthened coordination of government policy, will be able to maintain the macroeconomic stability and bring inflation to the target, which are 5% ± 1% in 2011 and 4.5% ± 1% in 2012.

Central Bank Policy Mix: Key Concepts and Indonesia's Experience -- Central Bank Policy Mix: Issues, Challenges, and Policy Responses -- Monetary Policy -- Exchange Rate Policy and Regimes -- Managing Capital Flows -- Financial Stability and Systemic Risk -- Macroprudential Policies and Institutional Arrangements.

The indonesian economy : entering a new era -- Contents -- List of Tables -- List of Figures -- Message from the Deputy Governor of Bank Indonesia -- Message from the Director of the Institute of Southeast Asian Studies -- Foreword -- Preface -- Contributors -- Part I: Introduction -- 1. Economic Challenges in a New Era -- 2. Government Economic Policies since the Beginning of the New Order Era -- Part II: Monetary and Fiscal Policies -- 3. The Dynamics of Monetary Policy -- 4. The Financial System: Balancing Financial Stability and Economic Growth -- 5. Economic Crisis and Fiscal Policy Management -- 6. Understanding the Role of Fiscal Stimulus in Maintaining Economic Resilience -- Part III: Domestic Economy -- 7. Regional Heterogeneity of the Large Market and Production Base -- 8. Industrial Relations in the Democratizing Era -- 9. Decentralization and Domestic Trade Interdependence -- Part IV: Search for New Paradigms -- 10. Embracing ASEAN Economic Integration 2015: A Quest for an ASEAN Business Cycle from Indonesia's Point of View -- 11. Governance and Economic Performance -- 12. A Search for a World Development Paradigm: With Specific Recommendations for Indonesia -- Index.