ID :
14965
Tue, 08/05/2008 - 18:06
Auther :
Shortlink :
https://www.oananews.org//node/14965
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BI : RI'S YEAR-END INFLATION RATE ESTIMATED AT 11.5 - 12.5 PERCENT
Jakarta, Aug 5 (ANTARA) - Indonesia's year-on-year inflation rate at the end of 2008 will range between 11.5 percent and 12.5 percent, Bank Indonesia (BI), the central bank, estimated in a press statement issued here on Tuesday.
It said the estimate was made regardless of the fact that the monthly and yearly inflation rates in July 2008 was respectively recorded at 1.37 percent and at 11.9 percent where the latter was slightly higher than that a year earlier at 11.03 percent.
The BI said by taking into account several risk factors and inflationary pressures that were likely to emerge until the year end, the BI estimated the year-end inflation rate would be recorded at about 11.5-12.5 percent.
In the meantime, Indonesia's balance of payments was also expected to perform better so that the stability of currency exchange rates would also be well maintained.
Foreign exchange reserves up to the end of July 2008 stood at US$60.56 billion or equivalent to the amount needed to finance imports for 4.7 months and payment of the government's external debts.
Earlier in the day on Tuesday, BI's board of governors decided to raise the BI rate by 25 basis points from 8.75 percent to 9.00 percent.
It said the estimate was made regardless of the fact that the monthly and yearly inflation rates in July 2008 was respectively recorded at 1.37 percent and at 11.9 percent where the latter was slightly higher than that a year earlier at 11.03 percent.
The BI said by taking into account several risk factors and inflationary pressures that were likely to emerge until the year end, the BI estimated the year-end inflation rate would be recorded at about 11.5-12.5 percent.
In the meantime, Indonesia's balance of payments was also expected to perform better so that the stability of currency exchange rates would also be well maintained.
Foreign exchange reserves up to the end of July 2008 stood at US$60.56 billion or equivalent to the amount needed to finance imports for 4.7 months and payment of the government's external debts.
Earlier in the day on Tuesday, BI's board of governors decided to raise the BI rate by 25 basis points from 8.75 percent to 9.00 percent.
