Monthly Market Summary Feb 2024

In February 2024, overall inflation increased from 2.57% YOY in January 2024, to 2.75% YoY. Bank Indonesia maintains its interest rate policy at 6%. The fiscal balance shows a surplus in January 2024, reaching IDR 31 trillion or 0.1% of GDP. Bank Indonesia permitted the purchase of bonds amounting to IDR 30.5 trillion to stabilize the bond market, with the most purchases being in tenors of 5 to 10 years. From the current Indonesian political situation, the results of the quick count of the Indonesian general election show Prabowo-Gibran's victory. This situation had a positive effect on the MSCI index which rose 3.2% during the three days after the election. In general, the stock market in Indonesia was quite strong in momentum for February and fundamentally, the stock market in Indonesia was quite positive. See more in this video.