{
    "success": true,
    "data": {
        "id": 1318257,
        "msgid": "bi-sees-inflation-still-under-control-1447893297",
        "date": "2003-11-08 00:00:00",
        "title": "BI sees inflation still under control",
        "author": null,
        "source": "JP",
        "tags": null,
        "topic": null,
        "summary": "BI sees inflation still under control The Jakarta Post, Jakarta Bank Indonesia has forecast that currency in circulation will only increase by around Rp 5 trillion during the current one- month Ramadhan period, a level which will not create serious inflationary pressure. Bank Indonesia deputy governor Aslim Tadjudin, said on Friday that the increase is due to the higher demand for money, as people tend to spend more during the Islamic holy month and Idul Fitri celebrations.",
        "content": "<p>BI sees inflation still under control<\/p>\n<p>The Jakarta Post, Jakarta<\/p>\n<p>Bank Indonesia has forecast that currency in circulation will<br>\nonly increase by around Rp 5 trillion during the current one-<br>\nmonth Ramadhan period, a level which will not create serious<br>\ninflationary pressure.<\/p>\n<p>Bank Indonesia deputy governor Aslim Tadjudin, said on Friday<br>\nthat the increase is due to the higher demand for money, as<br>\npeople tend to spend more during the Islamic holy month and Idul<br>\nFitri celebrations.<\/p>\n<p>But he said that the increase in money in circulation was<br>\nstill within the central bank's target.<\/p>\n<p>Aslim said that the central bank will absorb the excess<br>\nliquidity through the regular weekly auction of its Bank<br>\nIndonesia SBI promissory notes.<\/p>\n<p>Some analysts have raised concerns over a possible hike in<br>\ninflation during the remaining period of this year, as prices<br>\nwill go up with stronger public spending during the Ramadhan and<br>\nChristmas celebrations.<\/p>\n<p>This will force the central bank to boost its benchmark<br>\ninterest rate via the SBI auction to control inflation, which<br>\nmeans that it will reverse the current declining trend in the SBI<br>\nrate.<\/p>\n<p>The central bank has been aggressively cutting down the rate<br>\nduring the past year. On Wednesday the benchmark rate declined to<br>\nan all-time low of 8.46 percent, compared to more than 13 percent<br>\nearlier in the year.<\/p>\n<p>The lower interest rate is expected to make bank loans cheaper<br>\nso that the corporate sector can afford to borrow more money from<br>\nbanks to finance expansion programs. This will in turn help push<br>\neconomic growth and create more jobs. The lower rate will also<br>\nhelp ease the burden of the government in servicing its huge<br>\ndomestic debts.<\/p>\n<p>After suffering from the devastating impact of the<br>\nhyperinflation of the late 1990s, the central bank is determined<br>\nto keep inflation under control. It wants inflation this year to<br>\nbe around 8 percent.<\/p>\n<p>The Central Statistics Agency (BPS) reported earlier this week<br>\nthat inflation during the first 10 months of this year was still<br>\nat a modest rate of 3.05 percent.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/bi-sees-inflation-still-under-control-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}