SBI rate falls slightly to 15.14%

SBI rate falls slightly to 15.14%

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

The one-month SBI notes fell to 15.14 percent at the weekly auction Wednesday from 15.16 percent at last week's auction, Bank Indonesia said.

Bank Indonesia also said it accepted Rp 21.38 trillion (US$2.4 billion) in bids at the auction, or 96.84 percent of total bids.

The central bank has been guiding rates lower slowly amid decreasing inflation pressure and the rupiah's sharp appreciation against the dollar.

Guiding rates lower will help reduce the costs shouldered by the government to bail out ailing local banks as well as spur economic growth. -- Dow Jones