A Rice Blunder in Looming Recession
Monday, 12 December 2022
For Indonesia, the high interest on the US dollar will trigger an exodus of capital and put pressure on the rupiah. If the rupiah continues to weaken, imported consumer goods, as well as imported raw materials used in Indonesia’s industries will become more expensive.
A PESSIMISTIC mood is increasingly expanding in the global financial market. Consensus among analysts is growing stronger: the economy will slow down next year, we’re going to fall into a recession. The war against inflation will not end before the year changes over, there is nothing to be done about it. Central banks around the world must continue their tight monetary policies and raise interest rates.
No wonder that the market is paying...
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