JAKARTA (TheInsiderStories) — Good morning! British Prime Minister Theresa May requested for three months extension until June 30 over Brexit planned. But the request faced immediate resistance from the European Commission.
Her request came just nine days before the country due to leave the organization. So far, May is facing another counter as oppositions called the postponement as betraying the British people.
The commission document said the delay should either be last until May 23, to avoid a clash with European elections, or extend at least until the end of the year, which would oblige Britain to take part in the elections. Britain must decide by April 11 if it will participate in the European election. EU leaders are expected to decide on May’ request at a summit in Brussels today.
Amid the Brexit uncertainty, United Kingdom has it lowest inflation record in the last two years. Moreover, property price fell 1.6 percent and the kingdom was able to maintain its purchasing powers.
In February, British’ consumption increased by 1.9 percent year-on-year. Moreover, its jobless rate hit the lowest point in the last 44 years.
While. some United States (US) officials reported worried that China will back from several points in the trade negotiation. Chinese negotiators felt like they don’t get any guarantee that the import tariff will be revoked after both superpowers reached agreement.
Moreover, Japan revised its economic growth projection, first time in the last three years, due to US-China trade war and export slowdown. The country’ export has been decreasing for three months in a row. The US and China trade tariff war has given a pressure to Japanese cellphone components and chip maker equipments.
BP Batam recorded the investment value that entered this year for the January-February 2019 period of Rp651 billion. The investment flew into the electronics, machinery, medical devices, mobile phone assembly and contact lens sectors.
Today, Bank of Indonesia will announce their decision over the 7-Day Reverse Repo rate (7-DRR rate). Analysts predicted that the rate will be maintained at 6 percent.
Ahead of the reference rate announcement, there was not much move on the market. Rupiah only weakened by 0.02 percent to 14,111.75. Otherwise, the Jakarta Composite Index strengthened by only 0.03 percent to 6,482.71 with small foreign net buys at Rp82.99 billion.
May you have a profitable day!
Written by Linda Silaen and TIS Intelligence Team, Please Read Our Insight to Get More information about Indonesia