JAKARTA - The Ministry of Finance said that the Central Bank of the United States or the Fed is expected to hold the benchmark interest rate at a high level for a long time. Because the inflation conditions in the country are still quite high.
"America's inflation is still high, because of its high inflation, it seems that interest rates in the United States (US) will not be lowered by the American central bank," said Deputy Minister of Finance Suahasil Nazara in the agenda of the 2024 Central Development Coordination Meeting, Thursday, April 18.
Suahasil said that previously various parties predicted and hoped that the Fed would lower its interest rates by mid-2024. However, this estimate missed, because global economic conditions were heating up due to the Middle East geopolitical conflict.
Meanwhile, with the high rate of US interest rates, it causes capital flows to come out of emerging markets to the US, causing various countries to find it difficult to get capital flow.
BACA JUGA:
According to Suahasil, with these conditions, it means that the Indonesian government still has to maintain various volatility conditions that occur at the global level.
Suahasil said that the conditions that occurred in China and Europe were still a concern for the Indonesian government plus new conflicts that were heating up in Middle Eastern countries, namely Iran and Israel, which exacerbated global economic conditions.
"We will take it seriously, we hope that there will be no excessive escalation, which will disrupt world trade and financial sectors," he said.
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