JAKARTA (TheInsiderStories) - Good Morning! Chairman of Federal Reserve, Jerome Powell call for a patient stimulus approach to keep economic recovery alive and to boost the labor market. He also sent a signaled it was important to keep the monetary stimulus spigot open as he continued to bat away growing concerns over an expected pick up in inflation.
Its means the central bank will not tighten monetary policy solely in response to a strong labor market, recognizing the economy’ ability to sustain a robust job market without causing an unwanted increase in inflation. While, the Senate undertook the first day of the second trial of Donald Trump, the only United States (US) leader to be impeached twice while in office.
Then, President Joe Biden committed to accelerate the flushing of a US$1.9 trillion fiscal stimulus package. He has approved a plan from Democrats to accelerate the provision of cash assistance to the public amounting to $1,400. The House plans to vote on Feb. 22 to endorse this plan.
In Asia, the Philippines’ military chief, Lieutenant-General Cirilito Sobejana, said the country will beef up its naval presence in the South China Sea to protect its fishermen amid growing concerns over operations of China’ coast guard in disputed waters. It comes after the country protested a new law adopted by China that allows its coast guard to board or open fire on foreign vessels in the waters.
And, Myanmar‘ new junta leader, Min Aung Hlaing, has written Thai Prime Minister, Prayut Chan-o-cha, to seek help to support democracy, a day after he made a rare national address calling people to prioritize facts not feelings and promising that elections would be held eventually. The protesters returned to the streets again despite bloodshed a day earlier that saw a few people getting hurt.
In Indonesia, transportation minister, Budi Karya Sumadi, held a bilateral meeting with Japan ambassador, Kanasugi Kenji talked the potential cooperation in the transportation sectors. The two discussed several transportation projects in Indonesia, such as the Patimban Port, the Jakarta MRT Phase 2, and the semi-fast train Jakarta-Surabaya.
On Wednesday, Indonesian Rupiah strengthened 0.06 percent to 13,986 against the US Dollar and the Jakarta Composite Index (JCI) rose 0.33 percent to 6,201.83 compared to the previous day. The analysts rated that capital inflow and the stable condition of the economy are the pillars of the strengthening of both.
However, poor real sales data and consumer confidence index suppressed both movements. With this information, the Rupiah is expected to move in the range of 14,000 - 14,050 versus the Greenback and JCI between 5,971 - 6,299.
Stocks that can be watched today are PT Indofood CBP Sukses Makmur Tbk (IDX: ICBP), PT Semen Indonesia Tbk (IDX: SMGR), PT AKR Corporindo Tbk (IDX: AKRA), PT Astra International Tbk (IDX: ASII), PT Waskita Karya Tbk (IDX: WSKT), PT Bank Rakyat Indonesia Tbk (IDX: BBRI), PT Bank Central Asia Tbk (IDX: BBCA), PT Bukit Asam Tbk (IDX: PTBA), and PT Aneka Tambang Tbk (IDX: ANTM).
May you have a profitable Day!
Written by Linda Silaen, Please Read Our News to Get More information about Indonesia
