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NEW UPDATES Asean Affairs  28 November 2014  

BI to help curb 2014 inflation at 7.7 percent

The countrys central bank, Bank Indonesia (BI) announced its plan to curb inflation in 2014 at 7.7 percent or at the lower limit of BIs previous prediction at 7.7-8.1 percent.
"We forecast that the inflation rate would hover between 7.7 and 8.1 percent. Of course, we are doing our best to achieve an inflation rate of 7.7 percent," BI Governor Agus Martowardojo stated here on Wednesday.
The inflation rate in October 2014 reached 0.47 percent (month-to-month) or 4.83 percent (year-on-year).
The BI governor has forecast that the inflation rate in November would soar as a result of the hike in the prices of subsidized fuels.
"It is estimated to be in the range of 1.3-1.6 percent month-to-month," he noted.
Until the third week of November, the core inflation was still maintained. But, he did not mention any figure.
Agus remarked that the BI should also be cautious about the inflation rate in December when it is expected to be high.
"Inflation in December can reach two percent," Agus claimed.
The BIs inflation estimate of 7.7-8.1 percent in 2014 is higher than the governments projection of 7.3 percent.
The subsidized fuel price hikes are expected to contribute 2.4-2.8 percent to the inflation rate.
Some 1.3 percent of the estimated 2.6 percent is a direct contribution due to the increase in the prices of subsidized fuel oils, while some 0.7 percent is an indirect contribution in the form of increased transportation cost and the 0.6 percent is a result of the food, services, and goods price hikes, he stated.
Agus has earlier noted that the BI was preparing itself for possible inflation risks after the government confirmed its decision to raise the prices of subsidized fuel oils.
"BI is fully prepared to respond and cooperate with the government to face the situation," he stated.
Although the hike might lead to inflation, Agus hailed the governments decision, saying that the inflationary impact of the hike would be felt only in the initial three months of the announcement.
"If the subsidy reform is carried out well and sustainably, we will no longer need to discuss the issue every year," he added.(ANTARA )

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This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






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