Bank Indonesia cut its projection for Indonesia’s economic growth to only 3.5% – 4.3% this year. Meanwhile, the 3Q21 economy is estimated to be lower than the previous quarter, in line with the implementation of a number of restrictions to reduce the rate of transmission of COVID-19. The decline in growth mainly occurred in household consumption due to limited mobility. The majority of market participants returned to being interested in Government Bonds (SUN) over the weekend, marked by lower yields in almost all series.
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