 "banks, bank rate cuts, lending rates, deposits, savings, investment, schemes, shares, insurance")
Indonesia’s Parliament will consider recommendations to overhaul how the central bank operates, raising market fears that Bank Indonesia (BI) will lose independence and its policymaking could be at risk.
What’s being proposed?
A panel of experts issued recommendations this week to revise the 1999 central bank Act to a Parliament panel.
The recommendations include expanding BI’s mandate to cover economic growth and employment. The panel recommended Cabinet ministers be given voting rights at monthly monetary policy reviews. It also suggested the formation of a Monetary Council to supervise BI — the finance minister and a minister in the economics sector
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