BI continues to cut interest rate

BI continues to cut interest rate

The central bank cut on Wednesday the interest rate of its
one-month SBI promissory notes to a record low 7.86 percent,
20 basis points lower than 8.06 percent in the previous
weekly auction.

Bank Indonesia has been slashing the benchmark rate for more
than two years to encourage banks to lower their interest rates
for lending to the corporate sector. -- JP