SBI rate falls again this week

SBI rate falls again this week

JAKARTA: The weighted average interest rate on one-month Bank Indonesia promissory notes (SBI) fell in a central bank auction Wednesday.

The one-month SBI notes stood at 17.09 percent at the weekly auction, down from 17.21 percent at last week's auction, Bank Indonesia said.

The central bank also said it accepted Rp 20.00 trillion (US$1.9 billion) of bids at the auction, or 83.0 percent of total bids.

The central bank has been cutting rates in recent weeks to help ease the cost on the government of funding its huge budget deficit. -- Dow Jones