Bank Indonesia Gov Defends Policy Stance

        0848 GMT [Dow Jones] Bank Indonesia Governor Martowardojo defends the central bank's bias toward tighter monetary policy and its decision to keep rates unchanged, arguing the deeper-than-expected slowdown in 1Q was not its fault. "What I can say about the (slowdown in the first quarter growth) is that it was due to the decline in exports due to the ban of exports of mineral ores," he says. He adds the tight monetary stance has been successful at reining in inflation and helped narrow current-account deficit. His comments indicate the central bank is unlikely to reverse its policy soon as it remains concerned about the current-account deficit. (I-made.sentana@wsj.com)
        (END) Dow Jones Newswires

        May 08, 2014 04:48 ET (08:48 GMT)