JAKARTA: The weighted average interest rate on one-month SBI

JAKARTA: The weighted average interest rate on one-month SBI promissory notes fell slightly at the weekly auction Wednesday, the central bank said.

The one-month SBI notes stood at 15.11 percent from 15.14 percent last week, the central bank said.

Bank Indonesia also said it accepted Rp 17 trillion (US$1.9 billion) in bids at the auction, or 85.5 percent of total bids.

Bank Indonesia has been guiding domestic rates lower as inflationary pressure subsides along with the rupiah's current sharp appreciation against the dollar.

Lower rates will help spark the much-needed economic growth as well as reduce the costs shouldered by the government to bail out local ailing banks.

The meager fall in the benchmark rate signals that Bank Indonesia quite comfortable with the rate level around 15%, analysts say. -- Dow Jones