In February, the JCI index has risen 380 points (6.5%) from 5,862 on January 29 to 6,242. This is in line with our expectation that JCI performance would be better in February after declining by 2% in January.
The low inflation is preferable as people expect that inflation will go high in 2021 as the economy recovers because the low inflation provides space for the future inflation to go higher than current level.
Bank Indonesia (BI) recorded current account balance at USD0.79 bn (0.29% of GDP) continuing surplus at USD1.01 bn in 3Q20 (0.38% of GDP).
In Feb-21, Bank Indonesia (BI) cut its benchmark interest rate by 25 bps from 3.75% to 3.50% or in line with our expectation and consensus. Market has also expected the rate cut since Governor Perry indicated his preference of the lower rate at some...
After resulting surplus of USD21,6 tn in overall 2020, the trade balance started 2021 with surplus at USD1.96 bn in Jan-21. The global economic recovery may lead to the smaller trade surplus ahead as the import may grow due to the higher demand of imported input for domestic production.
Market heaves a sigh of relief that the daunting contractions over each quarter in 2020 have stabilized with a better trend.
Bank Indonesia (BI) held its benchmark interest rate at 3.75% in Jan-21 or in line with our and consensus expectations. Thus, the deposit and lending facility were unchanged at 3.0% and 4.5% respectively.
Statistics Indonesia recorded trade surplus at USD2.1 bn in Dec-20. The surplus is lower than our and consensus estimates at USD2.89 bn and USD2.58 bn, respectively.
Bank Indonesia (BI) held its benchmark interest rate at 3.75% in Dec-20 or in line with our and consensus expectations.
Statistics Indonesia recorded trade surplus at USD2.61 bn in Nov-20. The surplus is higher than our and consensus estimates at USD1.61 bn and USD2.60 bn, respectively.