Treasury bill rates now hovering around 4
Rates on 91 days Treasury bills fell below 4 percent for the first time in decades and the 182 days issue slipped to sit just above 4 percent at the mid-January Auction of Government of Jamaica Treasury bills.
The average rate for the 91 days instrument fell to 3.99 percent from 4.18 percent in December and the 182 days issue now sits at 4.16 percent down from 4.63 percent in December and is in line with IC Insider.com forecast that the rates would hit 4 percent during the current quarter. The Central Bank announced a 25 basis points cut in their overnight rate to 3 percent on Wednesday.
