Bank Indonesia - Annual Report 2006
The year 2006 was an engrossing year replete with numerous successes but also beset with challenges that further matured our managing of the economy, says Burhanuddin Abdullah, the governor of Bank Indonesia.
Year-on-year inflation stood at a lofty 17.1% at the start of the year, which meant the central bank had to keep rates at 12.75% until May. Business optimism and private consumption dropped as a result and foreign direct investment was sluggish.
But, after a series of seven rate cuts which
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