Bank of Jamaica’s latest CD offer of $20 billion attracted 186 bids amounting to $44,629,464,000, but only 75 bids were successful and resulted in the average yield of 8.32 percent for successful bids, that is down from 8.41 percent at last week’s auction and represents the fourth decline since the rates closed at 10.54 percent for the March 17 CDs.
The lowest bid at this week’s auction was 7.50 percent, down from 8 percent last week and the highest bid was 11 percent, but the highest rate for total allocation was 8.349 percent, with the highest rate for partial allocation being 8.34999 percent resulting in success for 99.30 percent of the amount applied for.
The total nominal outstanding amount for the 30-day CDs on April 21 will be $106 billion.
More decline in interest rates
April 20, 2023 by
