JAKARTA (TheInsiderStories) – Good Morning! Its long holiday in Indonesia for this week. But globally, some economic data and other important issues will comes out to be monitored by the economic players.
This week, European Central Bank (ECB) as well as the Reserve Banks of both India and Australia will announce its monetary stance. Last month, ECB left its key interest rate unchanged amid the global economy turmoils.
The interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.00 percent, 0.25 percent and -0.40 percent respectively. ECB’ President Mario Draghi its expected the key interest rates to remain at their present levels for an extended period of time, and well past the horizon of the net asset purchases.
While, speculation risen that both India and Australia could see interest rates being cut soon amid the darkening global economic outlook.
Furthermore, worldwide Purchasing Managers’ Index (PMI) surveys for May to provide important steers on business trends for the second quarter. Flash PMI data already showed slowing United States (US) growth alongside modest growth in the Eurozone and renewed manufacturing weakness in Japan.
In Asia, Caixin PMI surveys will be scrutinized for effects of the re-escalation of US – China trade tensions, as well as further signs that fiscal measures are continuing to work their way through the Chinese economy.
Furthermore, the consumer version of Blackberry Messenger (BBM) was officially deactivated as of May, 31. Blackberry Messenger was launched in 2005 and in 2016 the licensing right has been acquired by Indonesia-based Emtek Group.
Now, Blackberry Limited (formerly Research in Motion) has launched an enterprise-grade messaging platform that promises end-to-end security and privacy in its place.
Indonesian President Joko Widodo had planned to apply the open sky policy by allowing foreign airlines to operate in Indonesia. The President asserted that by higher number of airlines will allow better competition of ticket prices.
He also admitted that the government had tried to reduce plane ticket price by lowering the upper limit prices and increasing the lower limit prices. In addition, the prices of jet fuel have also been reduced because it is believed to constitute 40 percent of the total operational costs of airlines.
Last Friday (05/31) Indonesian Rupiah strengthened to 14,285 or jumped 123 points from Thursday 14,408 against US Dollar. While, the Jakarta Composite Index ended at 6,209.12 or up 1.72 percent compared to previous day.
Written by Linda Silaen and TIS Intelligence Team, Please Read Our Insight to Get More information about Indonesia