PENGARUH INFLASI, KURS, HARGA EMAS DAN SUKU BUNGA SBI TERHADAP INDEKS HARGA SAHAM GABUNGAN (IHSG) PADA BURSA EFEK INDONESIA PERIODE 2006-2010

Abstract

This study aims to determine the effect of inflation, exchange rate, gold price and interest rates on stock price index. Data used in this research time series data of inflation, exchange rates, price of gold, interest rate (Suku Bunga Bank Indonesia) and stock price index (Jakarta Composite Index) during the period 2006-2010. The method of analysis used in this study is the regression multiple. The study found that inflation, exchange rate, gold prices and interest rates significant effect on stock price index. Correlation between inflation and the gold price and stock price index is positive while the foreign exchange and interest rates on stock price index is negative. The Government of Indonesia may use the depreciation rate and controlling the exchange rate to improve the stock price index.