Most of last year's losses are linked to a drop in the value of its holdings in foreign currencies.

Running to more than 500 pages, lawmakers say the bill intends to update regulations to address challenges in the digital era, improve financial sector efficiency and promote financial inclusion.

President Joko Widodo has previously pledged Bank Indonesia would remain independent.

Stubbornly high inflation is making central bankers' job incredibly tricky.

Afghanistan's economy has plunged deep into crisis since the Taliban took over almost a year ago as foreign forces withdrew.

Reducing inflationary pressures is now the focus as rising global oil prices, the Ukraine conflict, and a domestic shortage of pork and fish strain household budgets.

The city-state joins a group of economies that have begun to dial back heavy pandemic-era monetary stimulus, as the threat of inflation outweighs the growth risks posed by Covid-19.