The last quarter of 2023 started with October witnessing significant economic pressures. Indonesia faced a series of issues.
IHSG finally closed above 7,000 with a weekly increase of 0.5% wow (7,009). LQ45 rose 0.8% wow to 924.
The Brent oil price has decreased to USD 77/barrel, accompanied by a weakening in the dollar index (DXY) to 103.
The third-quarter GDP growth of Indonesia recorded 4.94% YoY, with sustained consumption growth at 5.06% YoY.
The monetary move is to defend the exchange rate of the Rupiah that depreciated nearing Rp 16.000 per US Dollar.
Global bond market continued the correction in Oct ’23. The market anticipated higher US inflation due to a resilient economy and higher oil prices.
The market has anticipated higher US inflation due to a resilient economy and higher oil prices.
The anticipation for the key interest rate hikes from the main central banks, namely the Fed, ECB, and BoE, seems to have materialized.
In September 2023, there was an increase in budget expenditure to Rp293 trillion, from Rp213 trillion (14% YoY).
The third quarter has concluded, and the global economy is transitioning to monetary policy easing after a tight period due to inflation.
