US Fed opens policy meeting amid faltering confidence

The United States central bank opened a two-day policy meeting on Tuesday amid signs of waning consumer confidence and with Congress locked in debate over how best to support the economy amid the pandemic.With interest rates already at zero and the

Monetary policy beyond low inflation

In response to the COVID-19 pandemic, central banks around the world have been experimenting with unconventional policies. Normally, standard macroeconomic models prescribe substantial policy rate cuts during economic downturns to provide cushions t

Bank Indonesia trims policy rate to boost growth, signals further cut

Bank Indonesia (BI) has cut its benchmark interest rate – after a two-month pause – to support economic growth, which is likely to fall to its lowest since the 1999 Asian financial crisis.The central bank slashed its benchmark interest

Relaxing restrictions a misguided policy

COVID-19 continues to spread far and wide in Indonesia. On Wednesday, the country reported 1,241 new cases in a single day and a cumulative nationwide total of 34,316 confirmed cases. This was an unprecedented increase since President Joko “Jo