Indonesia faces test of central bank independence after governor’s shock exit
By Ankur Banerjee, Rae Wee and Gayatri Suroyo SINGAPORE, July 27 (Reuters) - Just as a fragile calm was returning to Indonesian markets, the abrupt resignation of the central bank chief has reignited investor anxiety over policy credibility and political influence in managing Southeast Asia’s biggest economy. Perry Warjiyo stepped down on Monday as Bank Indonesia (BI)governor after eight years for personal reasons, with Destry Damayanti, a senior deputy governor, appointed as interim governor, bringing some level of continuity, for now.
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By Ankur Banerjee, Rae Wee and Gayatri Suroyo SINGAPORE, July 27 (Reuters) - Just as a fragile calm was returning to Indonesian markets, the abrupt resignation of the central bank chief has reignited investor anxiety over policy credibility and political influence in managing Southeast Asia’s biggest economy. Perry Warjiyo stepped down on Monday as Bank Indonesia (BI)governor after eight years for personal reasons, with Destry Damayanti, a senior deputy governor, appointed as interim governor, bringing some level of continuity, for now. At stake is whether Indonesia’s policy path may bend to political pressure even as the rupiah hovers near record lows and investor confidence over Indonesia’s fiscal health under President Prabowo Subianto continues to erode. "The bigger question is central bank independence, since a fixed term is meant to insulate the governor and an early exit tests that," said Rangga Cipta, chief economist at Mandiri Securities.
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- By Ankur Banerjee, Rae Wee and Gayatri Suroyo SINGAPORE, July 27 (Reuters) - Just as a fragile calm was returning to Indonesian markets, the abrupt resignation of the central bank chief has reignited investor anxiety over policy credibility and political influence in managing Southeast Asia’s biggest economy. Perry Warjiyo stepped down on Monday as Bank Indonesia (BI)governor after eight years for personal reasons, with Destry Damayanti, a senior deputy governor, appointed as interim governor, bringing some level of continuity, for now.
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Indonesia faces test of central bank independence after governor’s shock exit
Sources1TypeCoverageInvesting.com · Economy