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Indonesian foreign-exchange reserves will probably plunge the most since at least the Asian financial crisis this quarter, putting pressure on President Susilo Bambang Yudhoyono to cut fuel subsidies and curb imports.
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Indonesian lawmakers approved Perry Warjiyo to become the central bank’s deputy governor for monetary operations, moving closer to filling a post vacant since 2011 as the nation grapples with a falling currency.
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Indonesian lawmakers will assess candidates to become the central bank’s deputy governor for monetary operations today, seeking to fill a post that has been vacant since 2011 as the nation grapples with a falling currency.
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Indonesia’s inflation accelerated to a 20-month high in February on higher food prices and power tariffs, reducing scope for the central bank to cut interest rates as exports falter.
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Indonesian President Susilo Bambang Yudhoyono is considering candidates to replace central bank Governor Darmin Nasution when his term expires in May.
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Indonesian President Susilo Bambang Yudhoyono is under growing pressure to raise fuel prices and curb oil imports as currency risks persist and the window to act narrows ahead of elections in 2014.
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Indonesia’s central bank plans to begin redenominating the rupiah in 2014 to simplify payments in a nation that has Asia’s second-highest denominated note.
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Indonesia’s dollar Islamic bonds fell for a second week, after a record decline last quarter, as concern inflation will quicken outstripped optimism the nation will win an investment-grade rating.
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The following are the day's top business stories:
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Prospects Indonesia will get a credit-rating upgrade from Moody’s Investors Services are pulling down yields on government Islamic notes from a two-month high and improving the outlook for a second global sukuk.
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