JAKARTA (TheInsiderStories) - Good Morning! The European Central Bank (ECB) gave a new signal on the additional monetary stimulus cause there were “worrying signals” from the financial condition of banks and small businesses. The President, Christine Lagarde has expressed her biggest concern regarding the ‘cliff effect’ when the government withdraws fiscal aid before the full recovery takes place.
The central bank has provided a pandemic stimulus package including a US$1.6 trillion emergency bond purchase scheme to keep credit flowing. So far, a number of European countries are still grappling with recession. As an example, Germany recorded an economy of minus 4 percent in third quarter (3Q) of 2020.
In the same period, the French also contraction 4.3 percent and the same thing happened in Italy and Spain. Currently Europe is also hit by another new wave of corona attacks causes of a number of lockdowns to be carried out.
In Germany, Chancellor Angela Merkel, extending its current coronavirus lockdown measures through Dec. 20. The measures included limits on private gatherings, bars, restaurants, and museums. But, ahead of christmas, the residents will be given some leeway.
In Indonesia, the House of Representatives is scheduled to decide on the preparation of the 2021 Priority National Legislation Program. There are 36 proposed bills in 2021, three of which are the Family Resilience, the Pancasila Ideology Policy, and the Bank Indonesia Bill.
Next Tuesday, the government plans to hold a government bond auction with an indicative target of Rp40 trillion (US$2.84 billion) from the seven series offered. Recently, the government raised Rp10 trillion from a bi-weekly Islamic bonds auction, matching the indicative target but no winning on the T-bills and project-based SUKUK.
Yesterday, Indonesian Rupiah strengthened 0.31 percent to the 14,100 a US Dollar and the Jakarta Composite Index strengthened 1.42 percent to 5,759.91 compared to the previous day. Analysts sees the stock indexwill move in the range 5,400 - 5,560 and Rupiah between 14,050 - 14,150.
Stocks to be watch are PT Astra International Tbk (IDX: ASII), PT Indofood CBP Sukses Makmur Tbk (IDX: ICBP), PT Bank Negara Indonesia Tbk (IDX: BBNI), PT AKR Corporindo Tbk (IDX: AKRA), PT Adaro Energy Tbk (IDX: ADRO), PT Bukit Asam Tbk (IDX: PTBA), PT Indo Tambangraya Megah Tbk (IDX: ITMG), PT Timah Tbk (IDX: TINS), PT Vale Indonesia Tbk (IDX: INCO), and PT Aneka Tambang Tbk (IDX: ANTM).
US$1: Rp14,100
May you have a profitable Day!
Written by Linda Silaen, Please Read Our News to Get More information about Indonesia
