Rates on Government of Jamaica Treasury bills hit their lowest level since November 2022 in this week’s auction for $2.2 billion in three tranches, due to mature in August and November this year and February 2024, resulting in rates on all three dipping under 8 percent.
The three months bill fell to 7.823 percent at this week’s auction, the lowest since November 2022, when the average rate came in at 7.96 percent. The six months instrument’s previous low of 7.96 percent in September last year came in at 7.975 percent at the recent auction and is also down from 8.32 percent in April this year. The nine months rate of 8.2 percent in July last year and 8.36 percent in April this year fell to 7.999 percent this week.
The auction saw $8.9 billion going after the three issues on the same day that $27 billion, when after the CDs that Bank of Jamaica offered, resulted in CDs rate falling under 8 percent.
Treasury bill rates dip under 8%
May 12, 2023 by
