JAKARTA (TheInsiderStories) – Good Morning! Bank Indonesia and United States (US) Federal Open Meeting Committee has a meeting today and will decided their monetary policies. Some analysts rated both of the central bank again will hold the rate.
After US lawmakers at an impasse over a new stimulus package, concerns about the economic recovery remained and investors’ attention shifted to the two-days Federal Open Committee meeting. Tomorrow, Indonesian central bank will announces their meeting results.
Last month, the seven days repo rate at 4 percent. At the same time, the policymakers also kept the Deposit Facility interest and Lending Facility rate by same points to 3.25 percent and 4.75 percent, respectively.
Globally, the World Trade Organization (WTO) has officially declared that the import tariffs imposed by President Donald Trump on Chinese goods violate international trade rules. In its decision, the organization defended complaints from China over tariffs on US$234 billion on their products during 2018.
As known, Trump has imposed tariffs on billions of dollars worth of Chinese products in a bid to bring Beijing to the negotiating table. While,Argentina’ government is working towards a fiscal deficit of 4.5 percent of gross domestic product in 2021 and an economic rebound of 5.5 percent, as the country battles to escape recession.
On Tuesday, Indonesian Rupiah strengthened 35 points to a level of 14,845 per US Dollar and the Jakarta Composite Index (JCI) closed down 1.18 percent to 5,100.86 compared to prior day. The Analysts said the development of the COVID-19 vaccine raised a good perception to the market and flocked them to the financial market.
The trade balance data of the country also was enough to relieve market players. Last month, Indonesia scored a surplus of US$2.33 billion. The continued, a number of global economic data are also expected to affect both of the instrument movement, such as data on Japan’ export and import performance in August and the retail sales of US.
Based on various informations, they estimated the local currency is likely to remain volatile and move in the range of 14,820 – 14,900 versus the Greenback and JCI between 5,016 – 5,059. Stocks to be watch for today are PT Telkom Indonesia (IDX: TLKM), PT Unilever Indonesia Tbk (IDX: UNVR), PT Kalbe Farma Tbk (IDX: KLBF), and PT HM Sampoerna Tbk (IDX: HMSP).
Then, PT Bank Negara Indonesia Tbk (IDX: BBNI), PT Astra International Tbk (IDX: ASII), PT Ace Hardware Tbk (IDX: ACES), PT Charoen Phokpand Indonesia Tbk (IDX: CPIN), also PT Bank Mandiri Tbk (IDX: BMRI) stocks.
May you have a profitable Day!
Written by Linda Silaen, Please Read Our News to Get More information about Indonesia