The central bank (Bank Indonesia/BI) said the global economic growth becomes further uneven, accompanied by persistent global financial market uncertainty. The US economy has maintained pace on the back of faster consumption and investment growth, combined with rising inflation.
Meanwhile, economic growth in the emerging market economies (EMEs) and Europe is estimated to be weaker-than-expected. Economic moderation is even expected for Japan and China.
The uneven global economic growth is unseparable from the trade tensions between the US and several countries. High uncertainty in the global financial markets also prompts investors to place their fund in safe assets, especially in the US.