POLL-Bank Indonesia to stand pat on rates this year, cut in early 2024
BALI, Indonesia, May 11 (Reuters) – Bali’s iconic surf breaks have nurtured generations of local talents whose dreams of going professional have invariably been dumped by the high costs of pursuing success.
Beyond that, BI was forecast to keep rates unchanged until end-2023 to support the economy amidst softening commodity prices which the resource-rich country relies on for growth.
Only a small minority forecast a rate cut this year.
Australia produced 7,000 tonnes of cobalt last year and Kantor Kemensos RI Digeledah KPK Terkait Kasus Dugaan Korupsi 5,900 tonnes in 2021 when it was the second largest producer. Output in the Philippines was 5,400 tonnes last year.
Indonesia, which made up 38% of global supply in 2021, is set to quadruple its nickel capacity to 1.2 million tonnes between 2021 and 2025, said Chen Yan, head of basic materials and engineering research at CICC.
Nearly a third of respondents, six of 20, forecast the central bank to cut by 50 basis points to 5.25% in the first quarter of 2024, while four expected a 25 basis points trim, two expected 75 basis points and three predicted a 100 basis points cut.
As production growth outpaces demand, the benchmark three-month nickel contract on the London Metal Exchange is likely to fall 7.5% this year to $23,741 a tonne and sink below $20,000 a tonne in 2024, according to Ellie Wang, a Shanghai-based analyst at CRU Group.
He embarked on an itinerant career that has taken him around the world, including stops in Slovakia, Venezuela, the Philippines and Indonesia, where he was given a passport to play for the national team.
He has most recently played in South Korea.
Indonesia is ASEAN chair this year and its foreign minister, Retno Marsudi, told the summit that principles of democracy and the rule of law were enshrined in the ASEAN charter.
The summit of the Association of Southeast Asian Nations (ASEAN) takes place as Myanmar’s military intensifies attacks and air strikes on resistance forces and ethnic minority rebels as it tries to consolidate power ahead of a planned election.
Code of Conduct,” Indonesia said in a chair’s statement released as the summit closed. toward an early conclusion of a … “We welcomed ongoing efforts to strengthen cooperation between ASEAN and China and were encouraged by progress …
JAKARTA, Indonesia (AP) – Indonesian officials said Sunday they freed 20 of their nationals who were trafficked to Myanmar as part of a cyber scam, amid an increase in human trafficking cases in Southeast Asia.
JAKARTA, Indonesia (AP) – Executions worldwide increased by 53% in 2022 from a year earlier, with a significant rise in Iran and Saudi Arabia, Amnesty International said in an annual report Tuesday that also criticized Indonesia as having one of the highest numbers of new death sentences in Asia.
A total of 225 basis points of hikes in the recent tightening cycle helped bring inflation down to 4.33% in April, closer to the target range of 2-4%, while core inflation, closely monitored by BI, has fallen to 2.8%.
Ramadhan Sananta’s first-half double had looked set to earn Indonesia the gold medal, the 20-year-old opening the scoring in the 21st minute when he steered a long throw by Alfeandra Dewangga beyond Thai goalkeeper Soponwit Rakyart.
The United boss wants to have all his key players, including new signings, available for the start of summer training to give him the best chance of launching a proper assault on the Premier League title.
May 19 (Reuters) – The following table shows rates for Asian currencies against the dollar at 0206 GMT.
CURRENCIES VS U.S. DOLLAR Currency Latest bid Previous Pct day Move Japan yen 138.520 138.71 +0.14 Sing dlr 1.349 1.3474 -0.10 Taiwan dlr 30.768 30.766 -0.01 Korean won 1334.300 1334.2 -0.01 Baht 34.475 34.39 -0.25 Peso 55.710 55.78 +0.13 Rupiah 14920.000 14860 -0.40 Rupee 82.600 82.6 0.00 Ringgit 4.551 4.534 -0.36 Yuan 7.059 7.037 -0.31 Change so far in 2023 Currency Latest bid End 2022 Pct Move Japan yen 138.520 131.110 -5.35 Sing dlr 1.349 1.340 -0.67 Taiwan dlr 30.768 30.708 -0.20 Korean won 1334.300 1264.500 -5.23 Baht 34.475 34.585 +0.32 Peso 55.710 55.670 -0.07 Rupiah 14920.000 15565.00 +4.32 0 Rupee 82.600 82.720 +0.15 Ringgit 4.551 4.400 -3.31 Yuan 7.059 6.900 -2.26 (Compiled by Archishma Iyer in Bengaluru)
BEIJING, May 11 (Reuters) – China’s GEM Co Ltd , a battery and material recycler, announced on Thursday a $500 million joint investment to build a nickel project in Indonesia.