JAKARTA (TheInsiderStories) - Good Morning! Board governor of Bank Indonesia has an agenda to announces their latest monetary policy in this month. In March, the central bank kept the seven days reverse repo rate in the current level at 3.50 percent, the Deposit Facility rate at 2.75 percent, and the Lending Facility rate to 4.25 percent.
Since last year the central bank has cut 150 basis point to support Indonesian economy. Then, President Joko Widodo to lead a plenary meeting on the National Energy Council. On Monday, he has sat down with Iranian foreign minister, Mohammad Javad Zarif.
Both talked about the importance of Tehran - Jakarta relations. While, Zarif expressed gratitude to Indonesia for the stances it adopted at the United Nation Security Council in order to preserve the 2015 nuclear deal, officially known as the Joint Comprehensive Plan of Action, and implement the Resolution 2231.
Then, COVID-19 vaccine produced by a Chinese pharmaceutical firm, Sinopharm, was scheduled to arrive in the fourth week of April. The non-subsidized vaccination programs are held and paid by companies for employees and their family members. The association of entrepreneurship said a total of 17,386 companies have registered to participate in the “Gotong Royong” program.
While, director general of the World Health Organization, Tedros Adhanom Ghebreyesus, emphasized that the world will be able to control the global pandemic in the coming months, if the distribution of vaccines and resources is fair.
In addition, tourism and creative economy minister, Sandiaga Salahuddin Uno, said the government planned to establish a travel corridor arrangement with the United Arab Emirates and Qatar. Earlier, the country has open travel bubbles with Singapore in Batam Island.
He also said Indonesia had opened its international doors to Poland and Ukraine. The Indonesian government is planning to open a travel bubble partnership to lure international tourists in June or July and prepare Bali as the first destination for tourists.
From United States (US), President Joe Biden has met with a bipartisan group of lawmakers as the White House seeks a deal on US$2 trillion jobs and infrastructure proposal. His’ American Jobs Plan calls for spending on traditional infrastructure projects along with addressing climate change and expanding access to home and community-based care.
The eight-year spending plan would be funded by increasing the corporate tax rate from 21 to 28 percent. In Asia, Thai prime minister announced will not join ASEAN Summit on Myanmar which will be held in Jakarta this weekend. While, China has issued a stern warning to Taiwan saying Beijing prefers war over allowing it to forge closer ties with the US.
Yesterday, Indonesian Rupiah strengthened 0.12 percent to 14,547 per US Dollar and the Jakarta Composite Index (JCI) fell 0.55 percent to 6,052.54 levels compared to the previous day. The analysts assessed that market are waiting for the policymakers’ decision which is expected to maintain the BI-7 Day Reverse Repo Rate at 3.5 percent in order to maintain the momentum of national economic recovery.
From global, chairman of Federal Reserves, Jerome Powell, indicated that the US economy will soon improve and has the potential to push up inflation. However, this has not been accompanied by a signal from the central bank to accommodate this change.
With this information, said the observers, the Rupiah is expected to move in the range of 14,550 - 14,600 versus the Greenback and JCI between 5,960 - 6,123. Stocks to be watch for today are PT Indika Energy Tbk (IDX: INDY), PT Bank Syariah Indonesia Tbk (IDX: BRIS), PT Indofood Sukses Makmur Tbk (IDX: INDF), PT Indo Tambangmegah Raya Tbk (IDX: ITMG), PT Elang Mahkota Technology Tbk (IDX: EMTK), PT Vale Indonesia Tbk (IDX: INCO), PT HM Sampoerna Tbk (IDX: HMSP), and PT Bank Tabungan Negara Tbk (IDX: BBTN).
Written by Linda Silaen and Editorial Team, Please Read Our News to Get More information about Indonesia
