KONTAN.CO.ID - JAKARTA. An Indonesian parliamentary panel is likely to drop a plan to revise the central bank act that analysts have warned could hurt its independence, in favour of debating a new financial sector bill, the panel's chairman told Reuters on Tuesday. Since late August the legislative panel has fielded recommendations to revise the 1999 law on Bank Indonesia (BI), from expanding its mandate to letting ministers vote at monthly policy reviews and letting it fund fiscal deficits. The move had pressured the rupiah currency, with investors concerned over the possible extension of the bank's pandemic-led debt monetisation.
Indonesian lawmakers' panel may drop bid to revise central bank law
KONTAN.CO.ID - JAKARTA. An Indonesian parliamentary panel is likely to drop a plan to revise the central bank act that analysts have warned could hurt its independence, in favour of debating a new financial sector bill, the panel's chairman told Reuters on Tuesday. Since late August the legislative panel has fielded recommendations to revise the 1999 law on Bank Indonesia (BI), from expanding its mandate to letting ministers vote at monthly policy reviews and letting it fund fiscal deficits. The move had pressured the rupiah currency, with investors concerned over the possible extension of the bank's pandemic-led debt monetisation.