SBI rate unchanged at 13.10%<\/p>\n
JAKARTA: The weighted average interest rate on one-month SBI
\npromissory notes, as expected, was unchanged yet again, at
\n13.10 percent, in a weekly auction, the central bank said
\nWednesday.<\/p>\n
Bank Indonesia also said it accepted Rp 15 trillion (US$1.6
\nbillion) of bids at the auction, or 79.7 percent of total bids.<\/p>\n
The weighted average rate for three-month SBI notes was
\nunchanged as well, at 13.12 percent. The central bank accepted Rp
\n8.98 trillion of bids for the tenor, or 99.99 percent of total
\nbids for the three-month maturity.<\/p>\n
Bank Indonesia had been cutting rates this year to boost
\neconomic growth. The benchmark one-month SBI was around 18
\npercent in the third quarter of last year. But the central bank
\nreversed that policy bias when the rupiah came under renewed
\ndownward pressure after the Oct. 12 terrorist attack in Bali,
\nwhich killed nearly 200, mostly western, tourists.<\/p>\n
But raising interest rates further isn't an option for Bank
\nIndonesia because such a move will raise the costs of bailing out
\nbanks, many of which went under during the Asian economic crisis
\nin 1997-98, analysts say. -- Dow Jones<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/sbi-rate-unchanged-at-1310-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}