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NEWS UPDATES Asean Affairs    July 24 2017  










Indonesia sticks with 4.75% reference rate


Bank Indonesia (BI) has decided to maintain its "Seven-Day Reverse Repo Rate" at 4.75 percent for the ninth time in a row to preserve macro-economic stability amid global economic dynamics and local economic indicators.

"This is to support the recovery of our domestic economy. Local economic continue to recover but not as strong as previously expected, mainly due to slow consumption growth although, on the other hand, there’s an increase in investment […] and export,” said BI spokesman Arbonas Hutabarat after the central bank's board of governors meeting on Thursday.

BI’s deposit facility interest rate was also maintained at 4 percent, as well as the lending facility interest rate at 5.5 percent. The June Inflation was a record low of 0.69 percent month on month, due to weak demand and controlled food prices.

Investment was strong at US$4.3 billion in the second quarter and $9.6 billion accumulatively in the first half of the year, BI noted.

Indonesia booked a trade surplus of $3.5 billion in the second quarter,  thanks to non-oil and gas exports, which rose 6.8 percent year on year (yoy), while non-oil and gas imports grew by 4.9 percent.

The central bank projects better economic growth in the second half of the year upon higher consumption in July and global economic recovery expected to continue, especially in China and Europe.

The US economy, meanwhile, is projected to grow at a slower pace due to pending investment amid limited fiscal policy impacts and a possible fall in oil prices as a result of the global glut and limited demand.



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ASEAN  ANALYSIS

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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