March 21, 2019 / 2:53 AM / 3 months ago

Indonesia says no rate hikes by U.S. Fed good for global economy

FILE PHOTO: Indonesia's Finance Minister Sri Mulyani Indrawati attends the World Economic Forum on ASEAN at the Convention Center in Hanoi, Vietnam September 12, 2018. REUTERS/Kham

JAKARTA (Reuters) - Indonesia’s finance minister said the Federal Reserve’s forecast for no rate hikes in 2019 “will be good for global economy” as markets will be calmer than in 2018, when the U.S. central bank raised rates four times.

“It shows that they’re concerned with economic slowdown in the U.S. and in the world,” Sri Mulyani Indrawati told reporters at the sideline of a government event.

Amid signs of an economic slowdown, the Fed abandoned projections for any interest rate hikes this year at a two-day policy meeting that ended on Wednesday.

Bank Indonesia is due to wrap up its own policy meeting later on Thursday. It is widely expected to keep interest rates unchanged for a fourth straight month, despite inflation falling to its lowest pace in nearly a decade, a Reuters poll showed.

Reporting by Tabita Diela; Writing by Gayatri Suroyo; Editing by Kim Coghill

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