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Indonesia suffered another setback in its war against terrorism this afternoon when a Toyota minivan packed with explosives was detonated in front of the J.W. Marriott hotel in Jakarta at about 12:30pm. By evening, 14 people had been reported dead and as many as 150 injured in the noonday blast, which some believe was timed to claim as many victims as possible in the lunchtime rush at the hotel's lobby restaurant. Many of the victims are suffering from severe burns; it is not clear how many are in critical condition.

Police have not yet identified who may have been behind the bombing, nor has any group claimed credit for the worst terrorist attack the country has seen since last October's bombings in Bali. That attack left 202 people dead and while this car bombing may not have claimed as many victims, the impact could be even greater. Indonesia has earned much praise over the past few months for efforts to stabilize the economy and its normally volatile currency, the rupiah. Those hopes went up in smoke as the rupiah closed down nearly two percent to finish the day at 8,670 to the US dollar. The Jakarta Stock Exchange also tanked more than 3 percent, closing the day at 488.5.

The country's Minister of State-Owned Enterprises, Laksamana Sukardi, called on the police to increase security at hotels and other highly trafficked locations. Minister of National Development Planning Kwik Kian Gie also called for calm, voicing his belief that the economy would remain resilient, as it did after the Bali bombing last year. Kwik said that the government was not planning to change any of its economic or budget targets and predicted that the economy would still grow nearly 4 percent this year as hoped by the government.

That could be wishful thinking as foreigners in Jakarta may be having second thoughts about staying in the capital. There is a fear that today's attacks may be the first in a long string of attacks to be staged during the trials of the 33 men accused of carrying out last year's deadly car bombing and suicide bombing in Bali. The first verdict will be announced on Thursday for one of the key operatives behind the attacks. The bomber, Amrozi bin Nurhasyim, is expected to receive the death penalty. More verdicts are expected in the weeks ahead, and possibly more attacks as the terrorist network reminds the world that they don't plan to disappear anytime soon.

• Jason Tedjasukmana | Jakarta
• Despite strong efforts to crack down on terror, Indonesia has become a victim of its own worst fears