Global Economy
Economy of the United States expanded at quarter-on-quarter seasonally adjusted annualized rate of 2.4% in three months ended June 2010, the lowest in three quarters.
Euro area's retail sales in June 2010 amounted the same as in previous month whereas those of 27-member European Union advanced at slower pace. the European Central Bank and the Bank of England kept its policy rates unchanged.
Australia's central bank maintained its policy rate at 4.5% given calmed financial markets, possible close-to-trend output growth, and on-target inflation.
Indonesia Economy
Consumer confidence index dropped the most in almost five years as perseptions about income, employment, inflation, and saving worsened.
The central bank is mulling redenomination, i.e. a simplification of the written value of goods and services as well as the written value of payment instruments.
Gross domestic product rose 6.2% annually (2.8% quarterly) in the second quarter of 2010, driven by surged consumption and investment.
Exports exceeded imports by US$ 580.3 million margin in June 2010, much lower than US$ 2.68 billion in May. Net exports amounted US$ 9.63 billion in the first half of this year, rising 10.76% from the same period in 2009.
Higher-than-expected inflation in raw food and transport groups led to month-on-month consumer prices gain of 1.57% in July 2010. On annual basis, consumer prices rose 6.22% last month, meaning a year-to-date inflation of 4.02%.
Bank Indonesia maintained the BI rate at 6.5% last week, making the reference rate stable for more than a year.
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