Investors still expect interest rate cuts in 2024, despite the US facing inflation that hasn’t decreased as expected.
The Indonesian economy in the first quarter of 2024 tends to be stable as the global economy shows a direction in line with expectations.
March 2024, the capital market seemed to enter a spring-like phase, with the global economy showing signs of strength, particularly in the United States.
Stock market experienced a significant correction within a week after long holiday. The IHSG corrected by 2.7% wow & LQ45 fell by 4.5% wow.
In March, the money market echoed the trends observed in January and February, with the bond yield curve remaining flat.
Discussions within the domestic market revolve around the government’s proposal to increase the Value Added Tax (VAT or PPN).
In March 2024, three global events occurred that could impact the global equity market.
Federal Reserve officials have reiterated their intention to implement a total interest rate cut of 75 basis points within the current year.
In February 2024, the Indonesian people held the 2024 General Elections. The elections were conducted smoothly and peacefully.
The Value Added Tax (VAT) is planned to be increased to 12% in 2025 from the current 11%.
