STATEMENT sheets were distributed on Monday last week to Bank Indonesia employees on secondment to the Financial Services Authority (OJK). On the sheets were instructions to select between two available options: stay on with the OJK, or return to Bank Indonesia.

It was almost noon and Sunandar had barely moved in his chair. The Trend Tour & Travel reservation clerk in Yogyakarta only occasionally twiddled on his computer and received phone calls. "At the beginning of December, there were hardly any tour orders. Things will pick up nearing Christmas and New Year," he said two weeks ago.

When Finance Minister Bambang Brodjonegoro received a formal resignation request from Taxation Director-General Sigit Priadi Pramudito, he did not have much time to think it over. Early the next day, he had to leave for Japan.

Pressure on Bank Indonesia (BI) to cut the rupiah interest rate and breathe some life into the lackluster economy is mounting. This is not just coming from businesses and consumers but also from the government, most notably from Economic Coordinating Minister Darmin Nasution and, more recently, Vice President Jusuf Kalla. Their request has some merit, with annualized October inflation declining to 6.25 percent and moving closer to BI's 4-5 percent year-end target. A lower interest rate, it is argued, would boost consumption and serve as an effective growth driver along with state spending.

At the Raja Tempirai oil block in the Penukal Abab Lematang Ilir regency of South Sumatra, there is little to suggest anything is amiss. The names of the two block operators, Pertamina Hulu Energi Raja Tempirai (PHE Raja Tempirai) and Golden Spike Energy Indonesia, still hang at the entrance, and 100 or so employees mill about, going about the daily business of running the plant.

It is only a month before the closing of company books for 2015. In retrospect, it has been quite a dismal year. In January, there were high expectations, being the start of President Jokowi's first year in office. But by the year-end, the results were disappointingly far below expectations. This year's economic growth is expected to reach only 4.8-5.0 percent, in contrast to the 6.0 percent target set by the new administration. The Rupiah and the Jakarta Composite Index (JCI), which began the year, respectively at Rp12,500 per US$ and 5,200 points, dropped considerably, settling at Rp13,600 per US$ and 4,500 points by year-end. With sluggish economic growth, businesses have been forced to adjust downward this year's revenue targets. Along with the decline in sales, companies have been busy cutting costs, which at times hurt employment. Unfortunately, the cost cuts are rarely able to match the drop in revenue. As a result, profits have narrowed across the board.