ABSTRACT
Jakarta Composite Index is an indices that can be used to represent a situasion of Indonesia Stock Market. The movement of JCI caused by economic macro intern factor such as Exchange Rate and Inflation. Moreover, there are another factor from extern such as The Fed Policy Tapering of Quantitative Easing. They will be increase The Fed Fund Rate and followed by rate of other aset in their country include T-bill AS. This situasion will impose the Indonesian Stock Market.
The method used in this study is multiple linear regression analyst, T test, F test at level of significant 5 % and performed with EViews 7.1. The research focus on monthly data from July 2013 until April 2015 .The result of this study showed that T-bill AS has negative effect but has no significantly affect to JCI, while Exchange rate and inflation has negative significantly affect to JCI partially. T-bill AS, Exchange Rate and Inflation also has together significantly affect to JCI.
Keyword: JCI, Tapering Off, Treasury Bill AS, Exchange Rate, Inflation.