BI cuts SBI to 8.76%

BI cuts SBI to 8.76%

JAKARTA: The yield on the country's one-month central bank
promissory notes SBI fell to 8.76 percent at the latest weekly
auction on Wednesday from last week's 8.83 percent, Bank
Indonesia said.

With the decline, the yield has fallen 423 basis points since
the end of last year.

The central bank sold Rp 25 trillion (US2.97 billion) of the
bills, accepting 81 percent of the bids.

The central bank is aiming for lower interest rate to help
spur the economy, which the government expects to expand by 4
percent this year and 5 percent next year. -- Bloomberg