Bank Indonesia's logo is seen at Bank Indonesia headquarters in Jakarta, Indonesia, September 2, 2020. REUTERS/Ajeng Dinar Ulfiana/file photo -
Voinews, Jakarta - Bank Indonesia will maintain its key policy rate for a second month on Thursday as inflation is within its target range and the rupiah has stabilised, showed a Reuters poll of economists who forecast the first cut to be in the third quarter of 2024.
Inflation has stayed within the central bank's 2023 2 per cent to 4 per cent target range for sixth consecutive months despite an uptick in inflation last month.
The rupiah has gained nearly 2 per cent since a surprise rate hike in October, easing pressure on imported prices.
Governor Perry Warjiyo recently said the policy rate would be on hold into next year as it was restrictive enough to keep inflation within the bank's 1.5 per cent to 3.5 per cent target for 2024 and the rupiah would become more stable as the U.S. Federal Reserve was widely expected to start policy easing next year.
All 28 economists in the Dec. 11-18 poll expected Bank Indonesia (BI) to hold its benchmark seven-day reverse repurchase rate at 6.00 per cent at the conclusion of its Dec. 20-21 meeting.
"Bank Indonesia will likely remain on hold ... given manageable inflation and currency movement. Although we expect inflation to remain comfortably within the bank's new inflation target next year, risks are tilted to the upside," said economist Makoto Tsuchiya at Oxford Economics.
"We expect the rupiah strength to partly reverse towards the end of the year, (but) we think another hike is unlikely. The next move will likely be a cut. BI will likely shift its focus to a growth picture gradually towards the middle of the year."
Median forecasts showed the key interest rate unchanged until at least the end of the second quarter of 2024, followed by a 50 basis-point cut in the third quarter to end the year at 5.50 per cent.
For the second quarter next year, 10 of 22 respondents saw rates at 5.75 per cent or lower. Only eight had that view in a November poll.
Nearly all economists said the next move from BI would be a cut. Among those who provided third-quarter forecasts, 15 of 19, or over 75 per cent, expected the rate to be 5.75 per cent or lower, while four saw it at 6.00 per cent.
"The dovish tone emerging from the recent Fed meeting should be good news for BI. We expect the central bank to remain on hold for the next few months rather than opt to reverse the unexpected October hike and we do not rule out the bank opting for a rate cut earlier than we have been expecting," said economist Kunal Kundu at Societe Generale.
"What above-target inflation might mean is a shallow easing trajectory. In fact, with growth yet to be on a strong footing and a national election looming next year, there is every case for monetary policy to be supportive of the economy. Hence, the next policy rate change will be a cut."
Warjiyo put Indonesia's GDP growth outlook within a range of 4.7 per cent to 5.5 per cent for 2024 and 4.8 per cent to 5.6 per cent for 2025. However, headwind was still expected from weakening global economic growth//VOI
Indonesian Migrant Worker Protection Agency (BP2MI) with support from the International Agency for Migration (IOM), held an event at the Indoor Tennis Court. Senayan, Jakarta. Attended by Indonesian Vice President Ma'aruf Amin -
Voinews, Jakarta - In commemoration of International Migrant Day which falls on December 18 2023, the Indonesian Migrant Worker Protection Agency (BP2MI) with support from the International Agency for Migration (IOM), held an event at the Indoor Tennis Court. Senayan, Jakarta. This event was attended by more than 5000 Indonesian migrant workers and their families.
This event aims to increase synergy between government agencies and other stakeholders in advocating for the rights of migrant workers and protecting them from all discrimination and exploitation abroad.
"BP2MI is optimistic that cooperation from relevant stakeholders will accelerate efforts to empower and improve the welfare of Indonesian Migrant Workers and their families. "Through this event we invite all stakeholders and the general public to side with migrant workers," said Benny Rhamdani, Head of BP2MI.
Indonesia is one of the largest source countries for migrant workers in the world. Based on the latest data from BP2MI in 2022, Malaysia is still the most popular destination country for Indonesian migrant workers abroad. It is recorded that more than 60,000 Indonesian Migrant Workers work in Malaysia in the domestic, plantation, construction and manufacturing sectors.
Despite these numbers, migrant workers often still experience workplace abuse, exploitation and stigma. Additionally, as they migrate to other countries for work, they are often placed on temporary contracts that expose them to greater risks of uncertainty, layoffs, and poor working conditions.
"Six years since the passing of the Law on the Protection of Indonesian Migrant Workers, namely Law No. 18 of 2017, IOM continues to rely on our expertise to support the Indonesian Government in encouraging synergy between labor migration and development, as well as in encouraging regular pathways for labor migration . "In this case, we appreciate BP2MI's strong commitment as one of the leading institutions that continues to improve protection for Indonesian migrant workers, through developing policies and programs that provide effective protection and assistance to Indonesian Migrant Workers and their families," according to Jeffrey Labovitz, IOM Head of Mission Indonesia, in his remarks.
According to a release received by Voice of Indonesia oin Tuesday, at this event, BP2MI will also introduce the Pre-Departure Orientation module developed by IOM and the International Labor Organization (ILO) with support from the Consumer Goods Forum (CGF). This module was developed to provide migrant workers with information about their rights, working and living conditions abroad, as well as access to support and complaints mechanisms if necessary.
This module is specifically designed for migrant workers who wish to migrate to Malaysia specifically to work in the palm oil sector.
This year's celebration event was also attended by the Vice President of Indonesia, Mr Ma'ruf Amin, who highlighted the importance of the pre-departure process.
“It is the government's obligation to equip migrant workers with technical and language skills, so that they can take advantage of the many job opportunities abroad. Pre-departure orientation is important not only to prepare skilled workers, but also to prevent them from becoming victims of human trafficking. On this occasion, I invite all relevant stakeholders to work together to combat human trafficking and improve protection and services for Indonesian Migrant Workers."
On International Migrants Day, IOM focuses on promoting the power of migration as a solution to global challenges, including providing better economic opportunities for people. IOM emphasizes that everyone can be part of the solution and that collective action today will prepare for a better future//VOI
Lieutenant Colonel Wirastyo Haprabu at the KRI Diponegoro 365 warship that is ready to serve a peace mission on the Lebanese border. (ANTARA/Jessica) -
Voinews, Jakarta - The KRI Diponegoro 365 warship is ready to conduct a peace mission on the Lebanese border that will last for a year, or throughout 2024.
KRI Diponegoro Commander, Lieutenant Colonel Wirastyo Haprabu, stated here on Saturday that the warship, with 120 personnel, will carry out peace duties along with the Garuda Maritime Task Force (MTF) XXVIII.
He noted that the warship arrived at Batam Naval Base IV on Wednesday (December 13) to refuel and prepare before continuing its journey to Colombo on December 17.
"We are currently docking in Batam to refuel and do a final check. (Sailing) from Jakarta to Batam is the first stage before we continue to leave for the second stage, namely Batam to Colombo," Haprabu remarked.
The main task of the peace mission is to prevent illegal goods, especially weapons, in and out of Lebanon, he stated.
"Then our second task according to the mandate of the United Nations is to assist the Lebanese navy in military integration operations," he explained.
Haprabu said that his side would carry out training to assist the Lebanese Navy.
KRI Diponegoro 365 has participated four times in the United Nations Interim Force in Lebanon (UNIFIL) operations since 2009.
Haprabu remarked that KRI Diponegoro 365 is a corvette warship equipped with a helicopter unit and can detect the presence of submarines.
"KRI Diponegoro has the specifications required by the UN. The 1,700-ton warship is capable of traveling at a speed of 28 knots and equipped with complete weapons, such as a 76 mm cannon," he elaborated.
The warship also has surface missiles, with a range of 100 km, an anti-aircraft radar, and two units of 20 mm caliber cannons on the right and left sides//ANT-VOI
A makeshift memorial for actor Matthew Perry, the wise-cracking co-star of the 1990s hit television sitcom Friends, who was found dead at his Los Angeles home on Oct 28, is pictured on Bedford Street in Manhattan in New York City, US, Oct 30, 2023. (Photo: Reuters/Mike Segar/File Photo) -
Voinews, Jakarta - Friends star Matthew Perry died from the "acute effects" of the powerful sedative ketamine that, combined with other factors, caused the actor to lose consciousness and drown in his hot tub, according to an autopsy released on Friday (Oct 15).
The report from the Los Angeles County Medical Examiner came nearly seven weeks after Perry, 54, who publicly acknowledged decades of drug and alcohol abuse, was found by his live-in assistant floating face down and lifeless in the jacuzzi of his Los Angeles home.
Toxicology tests found ketamine, a short-acting anaesthetic with hallucinogenic properties, in Perry's body at high levels well within the range typically associated with general anaesthesia used in monitored surgical care, the report said.
"Matthew Perry's cause of death is determined to be from the acute effects of ketamine," the autopsy concluded.
Coronary artery disease, the effects of the opioid-addiction medicine buprenorphine, also detected in his system, and drowning were listed as contributing factors in his death, which was ruled an accident.
The concentrations of ketamine in Perry's body would have overstimulated his heart rate while depressing his breathing, likely leading him to lapse into unconsciousness before his face slipped below the water in the hot tub, the report said.
"The exact method of intake in Mr Perry's case is unknown," the report said, adding that trace amounts of the drug showed up in his stomach. No recent needle marks were found on his body, it said.
Referred to as a "dissociative anaesthetic hallucinogen" because it produces a feeling of detachment from pain, anxiety and the environment, ketamine can be injected, mixed with liquids, snorted as a powder or smoked, according to the US Drug Enforcement Administration.
Autopsy findings suggested Perry may have been self-medicating with ketamine between medically supervised treatments with the drug.
According to witness interviews cited in the report, Perry had been undergoing ketamine infusion therapy for depression and anxiety. But his last known treatment was a week and a half before his death, so the ketamine found in his system by medical examiners would have been introduced since that last infusion, the report said.
Perry's Oct 28 death came one year after the publication of his memoir, Friends, Lovers, And The Big Terrible Thing, which chronicled his decades-long bouts with addiction to prescription painkillers and alcohol, a struggle he said came close to ending his life more than once.
Perry, best known for his role as Chandler Bing on the 1990s hit television sitcom Friends, had been sober for 19 months with no known substance abuse relapses before his death, according to interviews cited in the autopsy.
Investigators found no alcohol, illicit drugs or drug paraphernalia at the scene of his death. Multiple nicotine vaping products and an inhaler were found in Perry's living room. Injectables of the anti-diabetes medication tirzepatide and nicotine lollipops were in the refrigerator.
The actor had stopped smoking two weeks earlier, had been prescribed Tamoxifen – a hormone regulator usually taken for breast cancer prevention – for weight loss, and was receiving testosterone shots, the report said.
Non-toxic levels of some prescription medications were detected in Perry's body, but no traces of alcohol, cocaine, heroin or other illegal narcotics were found, the report said.
As was widely reported since, Perry had played pickleball hours before his death, and a witness who knew the actor told investigators he seemed to be in "good spirits" when she last spoke with him days earlier, the report said//CNA-VOI