Indonesia’s central bank chief said he wants to avoid increasing interest rates, counting on lending and reserve rules for banks to contain inflation and stoke growth in Southeast Asia’s biggest economy.
Indonesia’s central bank will reorganize its bill sales to encourage investors to keep their money in Southeast Asia’s largest economy for longer, joining regional policy makers in seeking to reduce currency volatility.
Indonesian lawmakers will assess today Finance Minister Agus Martowardojo’s suitability to become the next Bank Indonesia governor, testing support for the president’s bid to reshuffle his top economic team.
Citigroup Inc.’s $4.7 billion pretax writedown of its Morgan Stanley Smith Barney stake probably won’t reduce a profit-sharing plan’s award for Chief Executive Officer Vikram Pandit that could total $24 million.
Indonesian lawmakers yesterday approved Finance Minister Agus Martowardojo to become the next central bank governor after he said his priorities would be a stable exchange rate and keeping inflation low.
President Susilo Bambang Yudhoyono’s surprise choice of Agus Martowardojo to run Indonesia’s central bank met with mixed reactions, with some questioning his record as finance minister and others praising his banking experience.
Indonesia will probably face more pressure than other Asian nations to raise borrowing costs this year after keeping its benchmark interest rate unchanged tomorrow, as plans to cut fuel subsidies boost inflation risks.
President Susilo Bambang Yudhoyono’s surprise choice of Agus Martowardojo to run Indonesia’s central bank is gathering support among some members of the parliamentary committee that will decide on the appointment.