Money Market Commentary : March 2023
Bank Indonesia kept the benchmark rate at 5.75% in March 2023 despite the Fed raising further the Fed rate to 5,00%.
#WMR 13 – 17 February 2023
The benchmark interest rate in Indonesia have already peaked. Rupiah exchange rate has been strengthening since the beginning of 2023.
#WMR 20 – 24 February 2023
State revenue at the beginning of the year recorded an increase in Jan23. One of the biggest contributors to the increase came from Value Added Tax.
#WMR 6 – 10 March 2023
The unemployment rate finally rose to 3.6% as wage growth eased and labor participation increased.
#WMR 20 – 24 March 2023
Due to the bank incident in the US, the Fed plans to “pause” the Fed rate hike and that added positivity to the stock market.
Monthly Macro Review : Pause and Watch
Indonesia’s economy is doing well in the second month of 2023. A stronger Rupiah exchange rate since January 2023 and controlled inflation.