Mandiri's OCE cut its projection for Indonesia's economic growth by 0.3%
JAKARTA. The Office of Chief Economist (OCE) of Bank Mandiri cuts its projection for Indonesia's economic growth by around 0.1% to 0.3% due to the outbreak of the coronavirus (Covid-19) in Indonesia.
The cut is done with the assumption that the outbreak in Indonesia will last for 3 months. Previously, OCE projected Indonesia's economic growth to reach 5.14% in 2020.
OCE considers Bank Indonesia to actually have the option to issue accommodative policies to maintain Indonesia's economic growth. Like the monetary policies carried out by the US central bank, the Fed.
"We see that there is still room, but it is limited, for BI to cut interest rates in the first half of 2020," said OCE in its official statement. (KR/AR)