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Indonesia's financial sector remains strong amid global upheavals

Indonesia's Financial Services Authority (OJK) Chairman, Mahendra Siregar, confirmed the stability of the nation's financial services sector despite global upheavals, including prolonged high interest rates. At a press conference in Jakarta, he highlighted the sector's strong capital style, adequate liquidity, and risk management. Siregar expressed concerns about the increasing geopolitical risks, however, particularly the conflict between Israel and Hamas in Gaza, which poses potential disruptions to the global economy. He noted the influence of the improving US labour market and rising inflation leading to increased bond market sell-offs, impacting emerging markets like Indonesia. Despite this, Indonesia's domestic corporate performance remains positive, with a continued expansion in the Purchasing Managers' Index (PMI) and a trade surplus.


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