- The COVID-19 pandemic suppressed Indonesia's economic growth in the second quarter of 2020. Economic growth in the second quarter of 2020 contracted by 5.32% (yoy), a deep decrease compared to the achievement in the first quarter of 2020 of 2.97% (yoy).
- The Indonesian Balance of Payments (BOP) in the second quarter of 2020 recorded a sizeable surplus, supporting Indonesia's external resilience. The balance of payments recorded a surplus of 9.2 billion US dollars in the second quarter of 2020, after experiencing a deficit of 8.5 billion US dollars in the previous quarter.
- The central bank of the United States (US) The Federal Reserve (The Fed) has decided to maintain the benchmark interest rate (federal funds rate / FFR) at 0 - 0.25 percent. This decision was taken at the Federal Open Market Committee (FOMC) meeting on August 26-27, 2020.
- The Bank Indonesia Board of Governors (RDG) Meeting on 18-19 August 2020 decided to maintain the BI 7-Day Reverse Repo Rate (BI7DRR) at 4.00%, the Deposit Facility rate at 3.25%, and the Lending Facility interest rate at 4.75%.
Monthly Economic & Market Outlook
Disclaimer :This document is for informational purposes only and obtained from a variety of reliable sources, but is not a guarantee the accuracy or completeness and should not be relied on completely. The above conditions may be changed at any time. Forbidden to rewrite anything without written permission from The East Java Regional Development Bank.