But by far the most dominant effect of our monetary policy has been to encourage these domestic growth forces. In other words, far from “beggaring its neighbours”, monetary policy easing by the ECB has added to global demand and thereby stabilised the global economy, in particular after the euro area had been a major drag on global growth for many years.
Bank Indonesia also welcome and appreciate the series of the Government and OJK policy packages in supporting economic growth and structural reformation needed to strengthen the foundation of Indonesia economy. The various measures of policies are expected to create investment climate that increasingly conducive, which in turn can improve the outlook of the Indonesia economy. 9.