The short term Treasury bill yields fell at yesterday's auction held to re-issue Rs.12 billion maturing bills, the Public Debt Department of the Central Bank said.

The 3-month T-bill yields fell 3 basis points to 8.67 percent and 6-month yields 1 basis point to 9.80 percent. The 12-month bill yields remained unchanged at 10.85 percent.

The government sold rs.943 million in 3-month bills, Rs.2.76 billion in 6-month bills and Rs,11.23 billion in 12-month bills.

The Central Bank in May cut the policy rates by 50 basis points to spur economic growth.