The next challenge, Agus added, is creating an optimal monetary policy in accordance with open economy principles. "The last challenge, is how to achieve financial stability amidst divergent international monetary policy," Agus said in a press release on Monday, August 1, 2016.
Bank Indonesia had also held a joint seminar on "Managing Stability and Growth Under Economic and Monetary Divergence" with the Federal Reserve Bank of New York (FRBNY) in Nusa Dua, Bali to discuss the challenges.
FRBNY President William C. Dudley said that today's diverse economic and monetary policy continue to be dominated by the world's major economies. As a result, Western and Eastern countries must face risks and challenges.
Therefore, Dudley asserted that policy makers are urged to create policies that can drive growth, while at the same time mitigate risks. "And to maintain monetary and financial stability," Dudley said.