Indonesia has little exposure to SVB. Nevertheless, vigilance must still be increased by continuing to pay close attention to various domestic and foreign micro-banking and macroeconomic indicators.

Indonesia’s economic indicators, such as the economic growth and inflation, were still better than those in many other countries that were seeing a potential for recession and hyperinflation.

The inflation rate, which rose precipitously in previous months due to increasing prices of fuel and imported goods, has begun to subside. Bank Indonesia (BI) again raised its benchmark interest rate by 25 basis points.

Global inflationary pressures are still high. Central banks raised interest rates again. There may be a global recession and Indonesia must adapt.

According to the Governor of Bank Indonesia Perry Warjiyo, it was necessary to increase the benchmark interest rate in an effort to bring back the inflation within the 2-4 percent target in the third quarter of 2023.

Bank Indonesia has decided to raise interest rates early as a preemptive measure to cope with inflation in the event of an increase in fuel and food prices.

Indonesia's foreign exchange reserves are in a strong position to maintain the stability of the rupiah exchange rate. As of 31 March 2022, the value of Indonesia's foreign exchange reserves was US$139.12 billion.

Valuable lessons from the US more or less indicate that the success of the vaccination program is one of the key factors in the economic recovery of the superpower.