OJK The Stability Value Of The Indonesian Financial Services Sector Is Maintained

JAKARTA - The Financial Services Authority (OJK) considers that the stability of the national financial services sector is maintained despite facing global economic challenges and important dynamics in domestic development.

Chairman of the OJK Board of Commissioners, Mahendra Siregar, said that global economic growth is relatively stagnant and inflation in several developed countries is starting to show a downward trend. However, market volatility remains high in line with the growing uncertainty of economic and geopolitical policies.

"In the United States, solid economic growth with economic activity is supported by domestic consumption. Inflation was at 3 percent in January 2025 and Core CPI or the Consumer Price Index rose to 3.3 percent," he said at a press conference, Tuesday, March 4.

According to him, this shows that price pressures outside of energy and food are still quite high. As well as the labor market remains strong and monetary policy tends to be neutral.

From a geopolitical perspective, Mahendra said efforts to resolve the Ukraine conflict had not found a bright spot even though various meetings had been held at the international level and even the last meeting between the President of the United States and the President of Ukraine was clearly not reached an agreement.

In addition, Mahendra said the plan to apply the new United States tariffs to trading partner countries seems increasingly certain to be implemented and this will increase economic uncertainty, especially global trade.

In terms of the national economy, Mahendra said that inflation was quite under control by showing inflation in January at 0.76 percent and core inflation at 2.26 percent, this shows that domestic demand is still quite good.

However, Mahendra said that it still needs to be observed by other domestic demand indicators such as the continued decline in sales of vehicles, both motorbikes and cars, decreased sales of cement, and deceleration of price growth and decreased volume of home sales.

Mahendra said that in terms of Manufacturing in January 2025, it rose to the level of 51.9 percent from the previous 51.2 percent.

"External performance remains solid amid a global economic slowdown seen in the ongoing trade balance surplus where trade balance performance in January 2025 showed a surplus of US$3.45 billion or grew 71 percent year on year," he said.