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Market Chatter: Indonesia Finance Minister to Activate Bond Stabilization Fund to Defend Rupiah

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-- Indonesia's Finance Minister Purbaya Yudhi Sadewa is planning to activate a bond stabilization fund in a bid to support the rupiah and protect the bond market from global pressures, The Jakarta Globe reported Thursday.

The deployment of the fund aims to steady the securities (SBN) market amid increasing yields that can lead to falling bond prices and an increased likelihood of capital losses, the report said.

By using the fund, the size of which has not been disclosed, to acquire SBN in the secondary market as required, the government can reportedly boost market confidence and control foreign outflows.

The program will be under full control of the Finance Ministry, Purbaya said and The Jakarta Globe reported.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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