TEMPO.CO, Jakarta - Acting Governor of Bank Indonesia (BI) Destry Damayanti urged market participants to remain calm following the resignation of Perry Warjiyo as the central bank's governor, assuring that BI's policies would remain consistent during the leadership transition.
After meeting with President Prabowo Subianto at the Presidential Palace complex in Jakarta on Monday, July 27, Destry said BI would continue focusing on maintaining economic stability and financial system resilience.
"For the market, we hope there is no need to panic. Why? Because Bank Indonesia will continue to carry out our policies as we have done before," Destry said.
She said maintaining rupiah exchange-rate stability remains BI's main priority as a key pillar of monetary policy. The central bank will continue market interventions through various instruments, including the spot market, non-deliverable forward (NDF), and domestic non-deliverable forward (DNDF) markets.
Destry added that BI would continue supporting economic growth through macroprudential policies. Following the July meeting of the Board of Governors Meeting (RDG), she said the central bank would maintain efforts to encourage foreign capital inflows by providing incentives, including lower hedging costs.
"These policies will continue, and leadership at Bank Indonesia is carried out collectively and collegially," she said.
She emphasized that all members of BI's Board of Governors would ensure the central bank's duties and mandates continue as usual during the transition period, while expressing hope that domestic financial markets would soon stabilize.
"We certainly hope that stability in our financial markets will recover and return to normal," Destry said.
JCI Falls as Investors Await Permanent BI Governor
Meanwhile, the Jakarta Composite Index (JCI) closed lower on Monday as investors adopted a cautious stance following Perry Warjiyo's resignation and awaited the appointment of a permanent BI governor.
The JCI fell 10.65 points, or 0.17 percent, to 6,185.78, while the blue-chip LQ45 index declined 2.23 points, or 0.36 percent, to 612.56.
The index opened lower and remained in negative territory throughout both trading sessions.
Market participants were adopting a wait-and-see approach over the direction of BI's monetary policy after Perry's resignation and Destry's appointment as acting governor.
Although the leadership transition was seen as an effort to maintain market confidence in BI's institutional continuity, analysts said investors remained concerned about potential uncertainty surrounding monetary policy direction, the central bank's independence, and rupiah stability.
"Investors are worried that this could create uncertainty over monetary policy direction, BI independence, and rupiah stability," said Nico Demus, Associate Director of Research and Investment at Pilarmas Investindo Sekuritas.
Global Factors: Fed Meeting and Geopolitical Risks
From external factors, investors also remained cautious ahead of the US Federal Reserve's policy meeting on July 28–29, 2026, which could provide signals on the future direction of US interest rates.
Nico said easing geopolitical tensions after the United States halted attacks on Iran over the weekend and Iran reportedly stopped retaliatory strikes against US allies helped lift market sentiment.
The de-escalation also pushed global crude oil prices lower, easing concerns over energy supply disruptions and inflationary pressure.
This week, investors will closely monitor the Fed's Federal Open Market Committee (FOMC) meeting, along with policy decisions from the Bank of Japan (BoJ) and Bank of England (BoE).
Markets will also track key economic indicators, including US personal consumption expenditures (PCE) inflation data, US second-quarter economic growth figures, durable goods orders, China's Politburo meeting, and China's manufacturing PMI.
In China, the National Bureau of Statistics reported that industrial profits grew 18.7 percent, although growth slowed slightly from the previous month's 18.8 percent increase.
Regional Asian markets mostly closed higher on Monday, with Japan's Nikkei 225 rising 0.66 percent, China's Shanghai Composite gaining 1.15 percent, Hong Kong's Hang Seng Index advancing 0.98 percent, South Korea's Kospi increasing 0.97 percent, and Singapore's Straits Times Index climbing 0.55 percent.
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