Investors continue to demonstrate their willingness to accept lower rates of interest from the Government.
The indication came in the latest 28 day Treasury Bill auction on Wednesday.
The offer which sought to raise $400 million for the Government ended with an average yield of 8.26%.
That was 16 basis points lower than the 8.42%, the 28 day treasury auction in August yielded.
The result will be good news to the Finance Minister Audley Shaw who has continually pointed to declines in Treasury Bill rates as signals that financial institutions should take to bring down their own lending rates.
Treasury Bill rates act as benchmark interest rates in the financial sector.
They are rates which investors quote in Treasury auctions as the returns they are willing to take on monies loaned to the Government.
The indication came in the latest 28 day Treasury Bill auction on Wednesday.
The offer which sought to raise $400 million for the Government ended with an average yield of 8.26%.
That was 16 basis points lower than the 8.42%, the 28 day treasury auction in August yielded.
The result will be good news to the Finance Minister Audley Shaw who has continually pointed to declines in Treasury Bill rates as signals that financial institutions should take to bring down their own lending rates.
Treasury Bill rates act as benchmark interest rates in the financial sector.
They are rates which investors quote in Treasury auctions as the returns they are willing to take on monies loaned to the Government.
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