Jakarta - Bank Indonesia (BI) estimates that the impact of withdrawing monetary stimulus by the Federal Reserve will not be as significant as the taper tantrum in 2013.

"We have been anticipating since February 2021 with a triple intervention policy to maintain the stability of the rupiah exchange rate. Therefore, the impact of tapering the Fed on global and emerging markets in Indonesia will not be as big as the taper tantrum in 2013," said Governor of Bank Indonesia (BI) Perry Warjiyo in Jakarta, Thursday (19/8).

According to Perry, three reasons are underlying the forecast, such as the Fed's clear communication, from its policy framework, economic forecasts, especially inflation and unemployment, to the tapering policy plan.

"Thus, the market increasingly understands the pattern of the Fed's framework. The second reason is that BI has sufficient policy instruments through a triple intervention policy in maintaining rupiah stabi