IMF-WB Meeting: World Central Banks Discuss Monetary Policy Steps

TEMPO.CO, Jakarta - Leaders of central banks which have a strong influence on global liquidity flow gathered on Sunday to discuss responses to global economic uncertainty, particularly to stem the impact of continued trade war on the financial market.

While opening a seminar of Group of 30 (G-30) held as a side event of the IMF-World Bank Group annual meetings in Nusa Dua, Bali, on Sunday, Bank Indonesia Governor Perry Warjiyo reiterated Indonesia`s strong economic fundamentals and continued structural reforms.

Among the central bank leaders taking part in the seminar were Governor of Chinese Central Bank Yi Gang, Governor of Japanese Central Bank Haruhiko Kuroda, and Governor of French Central Bank Francois Villeroy de Galhau.

"I hope you can see and tell the world that Indonesia has strong and resilient economy and goes ahead with structural reforms," he said.

Governor of Chinese Central Bank Yi Gang, one of the policy makers whose statement in the forum is highly awaited, stated that uncertainty will still cast shadow on the global economy. The escalation of trade tension is one of the main challenges facing the world, he said.

Yi Gang shared the IMF`s statement that trade war may bring about negative market expectation.

China`s monetary policy remains neutral amidst the escalation of trade tension, he said.

China neither loosens nor tightens its monetary policy. "As you can see, China still has a sufficient room to adjust its policy," he said.

ANTARA