JAKARTA (TheInsiderStories) — Good morning! United Kingdom’ (UK) parliament will have Brexit vote on Friday. But the ongoing situation is there is a deadlock in the parliament.
Votes in parliament intended to find another way for Brexit deal. They had decided eight different options, with none got majority support. Even when Theresa May said that she’ll quit as prime minister if the parliament back Brexit deal, they still reached nothing.
If May can’t get her deal through a vote Friday, it is likely that she will ask for more Brexit delay or UK will have to leave European Union (EU) with no-deal. The EU itself starts talking about the future relations with the UK after a no-deal.
UK would have to pay its bills and keep the Irish border open. EU summit will be held possible on April 10 or 11. May must decided if she is going to bring her deal back for another vote and meet the EU’s deadline for getting it passed.
However, it still remains uncertain how, when or even whether the United Kingdom, the world’s fifth-biggest economy, will leave the EU.
In Indonesia, Financial Service Authority said that global economic slowdown followed by dovish monetary policy from developed countries encouraged foreign inflow to emerging markets. Until March 22, there was Rp11.2 trillion (US$794.32 million) foreign inflows to Indonesia, higher than the last two years.
But the condition wasn’t strong enough to support Rupiah. During February, the local currency against US dollar decreased by 0.64 percent. While, since the beginning of 2019, the Jakarta Composite Index increased by 4.02 percent with Rp10,5 trillion foreign net buys.
Yesterday, Rupiah continued depreciating by 0.37 percent to 14,246.75. On opposite, Jakarta Composite Index grew by 0.55 percent to 6,480.78.
Meanwhile, banking loan growth met an improvement. Until February, the loans value recorded increasing by 12.13 percent compared to 2018. It higher than 11.97 percent growth in January and exceeded Bank Indonesia’ target at 12 percent.
The loan growth was supported by investment loan. The growth is considered in accordance with public’s confidence over expansion. Financial Service Authority official expects for improving economy activity in the future.
May you have a profitable day!
Written by Linda Silaen and TIS Intelligence Team, Please Read Our Insight to Get More information about Indonesia