UOB Group economist Enrico Tanuwidjaja and Haris Handy revised inflation figures in the Indonesian economy.
“The downward trend in the annual inflation rate continued in August, as the COVID-19 pandemic devastated the population’s purchasing force while customer demand has not yet resumed despite the easing of social restrictions.Inflation in August 2020 fell to 1.32% to/from 1.54% in July (lowest since May 2000 at 1.20%).Meanwhile, the fundamental annual inflation rate is 2.03% to/a, with government-administered costs expanding to 1.03% to/to and volatile costs falling 1.09% to/a.»
“Since Indonesia first showed its coVID-19 cases in March and imposed a large-scale social restriction (Pembatasan Sosial Berskala Besar – PSBB), the country’s inflation has slowed.The downward trend in inflation was consistent with the resolution of many Indonesians to prevent spending, especially on non-essential goods due to layoffs and licences.”
“In the future, we expect headline inflation to remain below and gradually recover to the declining end of the government’s inflation target of 2.0 to 4.0% through faster disbursements to stimulate economic recovery.However, the dangers of the problem persist until customer confidence returns to -Pandemic levels, along with the futility of the virus/health propagation protocol that has led to stricter measures to combat PSBB/SBB.
The AUD/USD is looking to enlarge the rebound of the daily lows to 0.7311 after Caixin’s Chinese PMI surprised upwards.The Australian is showing some life symptoms amid a pause in the rebound of the dollar and a greater mood on the market.
The highest weekly USD/JPY shone Wednesday after recently bouncing at 106.12.Japan’s leading cabinet secretary, Yoshihide Suga, is in a position to compete as a national leader, suggesting a long term for Abenomics.
Gold canceled Wednesday’s 1.5% fall, caused by a wider return to the US dollar.The correction of the two-year minimum dollar came from a more powerful knowledge of the production PMI and ISM’s factory orders in the United States, while markets ignored ADP’s pessimistic employment report.
WTI continued to fall to $41.43, the lowest point in a month.A sharp drop in EIS inventories can simply disappoint the bears of power amid discussions about Iraq’s request for an exemption from OPEC production cuts.
The record moves of the S
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