ASEAN KEY DESTINATIONS
BI to formulate seven policies to help economy in 2019
Bank Indonesia Governor Perry Warjoyo said on Tuesday that BI would help stabilize the economy amid global uncertainty by introducing seven main policies in 2019.
First, BI plans to focus on its current monetary policy to maintain stability in inflation, which is set at around 3.5 percent, while keeping the rupiah exchange rate at its fundamental value.
“We will maintain a preemptive, ahead-of-the-curve monetary policy in 2019,” Perry said in Jakarta on Tuesday as quoted by kompas.com.
Second, the central bank plans to focus on a macroprudential policy to encourage banking intermediation and maintain a resilient financial system through close surveillance of large banks and corporations.
“Third, the payment system will be developed to allow for smoother, more efficient and secure transactions, both cash and cashless, and to support the development of the digital economy,” Perry said.
Fourth, BI will encourage the acceleration of financial market deepening and expand on financing through innovations in financial instruments, particularly those that help to develop infrastructure.
Fifth, BI will support the development of the sharia economy and sharia finance. Sixth, BI will take part in the expansion of micro, small and medium enterprises by controlling inflation and reducing the current account deficit.
Lastly, Perry said, BI would take part in improving Indonesia's image by playing an active role in formulating policies in international institutions. (bbn)
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