The direction of the policy mix is ​​ intended to simultaneously counteract the effects of global turmoil, both the risk of economic recession and high inflation, policy rate hikes by the Fed and other central banks, depreciatory pressures on the exchange rate due to a very strong US dollar, as well as persistently high global financial market uncertainty.
To that end, Bank Indonesia monetary policy in 2023 will still be focused on maintaining  stability (“pro-stability”), particularly the achievement of the inflation target and Rupiah stability, as well as supporting macroeconomic and financial system stability (Figure 17).