Interest rates declined in the latest auction of CDs placed on the market by the Bank of Jamaica, with the average rate falling to 8.41 percent from 8.49 percent at the auctions over the past two weeks.
The rate is slightly ahead of the 91 days Treasury bill rate of 8.136 percent, which was determined at the Treasury bill auction held on April 12 and 8.315 percent for the 182 days Treasury bill.
The central bank offered $17 billion and received offers amounting to $40.7 billion from 275 bids, with 161 being successful, down from the previous week of 351 and 253 successful bids. The lowest bid was at 8 percent, the same as the prior week, and the highest bid was at 11.5 percent, down from 13.5 percent, but the highest successful bid was 8.59 percent, a fall from 8.749 percent.
At the close of the auction, the amount pulled from the financial market was $104 billion, up from $99 billion the previous week.
Interest rates are down again
April 13, 2023 by
