Parliament on Thursday passed revisions to an omnibus financial law that add promotion of real‑sector expansion to Bank Indonesia’s objectives, widening its remit beyond monetary stability and economic growth. The text does not make clear whether employment creation is formally added to the bank’s duties. Finance Minister Purbaya told lawmakers the change is intended to strengthen Bank Indonesia’s role in deploying a policy mix to foster an environment conducive to real‑sector growth and job cre

FED'S BEIGE says recent weeks' economic activity in most U.S. districts expanded at a slow-to-moderate pace and employment was little changed. Inflation readings in most Fed districts were higher than in the prior report, largely reflecting energy-price increases tied to the Middle East conflict, including the Iran war. Rising energy costs since the Iran war began have raised concern about persistent inflation, prompting more policymakers to say they need to keep all policy options open, including the possibility of tighter monetary policy. Many officials nonetheless described current policy-rate conditions as fairly favorable.

Fed's Williams said current monetary policy settings are appropriate and he sees no need now to raise or cut rates, adding he does not see a clear directional path for future policy. The Fed has kept rates unchanged so far this year, but officials are divided after an energy-driven jump in prices; some warn that if shipping through the Strait of Hormuz does not recover quickly, a rate hike could be needed soon. The Fed-favored inflation gauge rose 3.8% YoY in April, the largest increase since 2023. Unemployment is 4.3%, which some officials describe as near full employment.