JAKARTA. Sept 8: Bank Indonesia, the country's central bank lowered Its one-month and three-month short-term bilateral certificates (SBIs) rates by three percentage points, reports Xlnnua.

The Bank Indonesia said In a statement that the rate of the moth-long SBI was lowered from 30 per cent to 27 per cent, while the rate for the threemonth SBIs from 28 per cent to 25 per cent.

Meanwhile, the SBI overnight rate remains at 15 per cent, while for one week the SBI rate is at 20 per cent, two weeks at 22 per cent, six months 12.125 per cent, and one year remains at 12.75 per cent.

The central bank raised Its one month SBI rate to 30 per cent and its three-month SBI rate to 28 per cent on August 19.

The rate Increase was aimed at stabilizing the rupiah currency against the US dollar.

To curb the rupiah fluctuation, the government introduced a tight monetary policy and raised the SBI rates along with the temporary halt of the purchase money market securities (SBPUS) by the central bank.