JAKARTA - Bank Indonesia (BI) Governor Perry Warjiyo estimates that the Fed Funds Rate (FFR) is predicted to only decline in the second semester of 2024.
Perry sees that the economic growth of the United States (US) remains strong, supported by domestic demand.
In addition, Perry said that US inflation is still high and global financial market uncertainty is still high. As a result, it is reflected in the increased yield of the US Treasury in line with the long-term risk premium and inflation which is still above market forecasts.
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"This development is pushing for the continued strengthening of the US dollar globally," Perry said at a press conference, Wednesday, March 20, 2024.
As for these developments, Perry said this condition made the flow of foreign capital more limited, and the increasing pressure on the weakening of the exchange rate in emerging markets.
Therefore, Perry conveyed that this condition requires strengthening the policy response to mitigate the negative impact of the global ban, including in Indonesia.
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