Global Economy
Moody's Investors Service said the United States, the United Kingdom, France, and Germany are well positioned to maintain their top Aaa ratings.
Gross domestic product in the euro area and European Union grew at the fastest pace in at least three and a half years, fostered by robust expansion in Germany.
Japan's economy unexpectedly expanded at quarter-on-quarter annualized rate of 0.4% in three months to June 2010, much lower than 4.4% in the first quarter.
Indonesia Economy
Indonesian government expects budget deficit to amount Rp 115.68 trillion next year, equivalent to 1.7% of national output.
The government plans to elevate electricity tariffs by 15% in early 2011, allowing total subsidies to decline to Rp 184.82 trillion from Rp 201.26 trillion in 2010.
To finance next year’s budget shortfall, central government will acquire more fund from notes issuance and earn less from foreign creditors than in 2010.
Sensitivity analysis revealed that the state budget has become more susceptible to change of economic growth. Oil price hike will have detrimental effect on 2011 budget, compared to its positive influence on revised 2010 budget.
Banks loan-to-deposit ratio was recorded at 77.34% on 13 August 2010, the highest since global financial crisis began in 2008. Lending and third party deposit respectively enhanced 19.54% and 13.84% annually.
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Jumat, 20 Agustus 2010
Selasa, 10 Agustus 2010
Indopremier Weekly Economic Update
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.
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.
Senin, 26 Juli 2010
Indopremier Weekly Economic Update
Global Economy
Federal Reserve remains prepared to take further policy actions as needed to foster a return to full production utilization, Chairman Ben S Bernanke said.
Greece, Ireland, and Spain successfully amassed almost 10 billion euros through debt sales this week. Hungary nonetheless failed to sell bills as expected.
Australia’s central bank may look at European banks stress tests and domestic inflation to determine its next interest rate decision, minutes of the latest monetary policy meeting revealed.
Asian Development Bank urged developing countries in East Asia to unwind policy stimulus. The Manila-based lender revised developing Asia economic growth forecast to 7.9% in 2010 from 7.5%.
Indonesia Economy
Bank Indonesia expects banks to keep loan-to-deposit ratio at 75%–105%, saying that additional reserve requirement will be imposed to those whose the ratio is outside such level.
The central bank sees monthly inflation at about 1% in July 2010. Year-end inflation may exceed 6%, Acting Governor Darmin Nasution said.
The government booked budget surplus worth between Rp 45 trillion and Rp 50 trillion in the first half of 2010 given higher-than-expected revenues and sluggish spending.
Indonesian government eyes economic growth at 7.7% and budget deficit worth 1.2% of gross domestic product in 2014.
Federal Reserve remains prepared to take further policy actions as needed to foster a return to full production utilization, Chairman Ben S Bernanke said.
Greece, Ireland, and Spain successfully amassed almost 10 billion euros through debt sales this week. Hungary nonetheless failed to sell bills as expected.
Australia’s central bank may look at European banks stress tests and domestic inflation to determine its next interest rate decision, minutes of the latest monetary policy meeting revealed.
Asian Development Bank urged developing countries in East Asia to unwind policy stimulus. The Manila-based lender revised developing Asia economic growth forecast to 7.9% in 2010 from 7.5%.
Indonesia Economy
Bank Indonesia expects banks to keep loan-to-deposit ratio at 75%–105%, saying that additional reserve requirement will be imposed to those whose the ratio is outside such level.
The central bank sees monthly inflation at about 1% in July 2010. Year-end inflation may exceed 6%, Acting Governor Darmin Nasution said.
The government booked budget surplus worth between Rp 45 trillion and Rp 50 trillion in the first half of 2010 given higher-than-expected revenues and sluggish spending.
Indonesian government eyes economic growth at 7.7% and budget deficit worth 1.2% of gross domestic product in 2014.
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