Market Pulse

Cloudy Outside, Slightly Clearer Inside

Greece's 'No' referendum vote and China's stock market meltdown have dominated this week's headlines, raising uncertainty and causing considerable turmoil across world financial markets. So far, at the time of this writing, the turbulence has yet to reach Jakarta's market. Meanwhile, at home, there has been a relatively unnoticed compromise, which helps clear some of the confusion over Bank Indonesia's ban on using foreign currency pricing in domestic transactions. Although this is still limited to the oil and gas sector, it is a useful template for other sectors to consider when discussing with the monetary authorities about following this new ruling.