Treasury bills at 17%
PA Wellington The Reserve Bank entered the money market again yesterday to sell ?50M worth of short-term Treasury bills. The 14-day bills all sold at 17 per cent, the lowest Treasury bill rate for some months and down from 18.14 per cent for short-term bills at last Tuesday’s tender. Yesterday’s bill sale was evidence that the tight liquidity seen in the shortterm market on Friday had eased. On-call or overnight money was back to 20 per cent yesterday after trading at around 26 per cent on Friday when cash was short in some quarters. The weekly Treasury bill tender today will be of ?100M, the Reserve Bank said.
It will comprise SSOM of 35-day (end-January)bills and SSOM of 70-day (endFebruary) bills.
The bank said forecasts indicated that Government spending in the settlement week of December 18 to 24 would more than offset forecast withdrawals from the banking system.
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Press, 17 December 1985, Page 30
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152Treasury bills at 17% Press, 17 December 1985, Page 30
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