Awaiting Central Bank's QE Measure

By Editorial Team 18/05/2020
Summary

The Indonesian Chamber of Commerce and Industry (Kadin) business association asked Bank Indonesia (BI) to print more money to stem the economic impacts from the Covid-19 pandemic. Kadin estimates that the national economy needs Rp 1,600 trillion in additional liquidity to recover from the pandemic-driven economic slump.

According to information obtained by D-Insights, businesses are expecting the central bank to play a more significant role in dealing with the impact of Covid-19. With more significant quantitative easing (QE), BI may boost both government and market liquidities.

However, the role cannot run under the BI's status as an autonomous institution. Previously, the House of Representatives' Budget Agency, or Banggar DPR, also proposed that BI print Rp 600 trillion in money as an effort to save the national economy.

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