Indonesia to announce policy package on Friday to combat inflation

JAKARTA - Indonesia's president said the government would announce a policy package on Friday to combat growing inflation and job losses in Southeast Asia's largest economy.

"In the last three days, the cabinet has been working to formulate economic policy and management with the main aim to maintain our financial stability," President Susilo Bambang Yudhoyono said in a statement.

"We will maintain growth from further slowdown."

The president made no direct comment on any possible measures related to the recent slump in the rupiah, bond prices and the stock market.