Treasury bill yields plunge across maturities

The Treasury bill yields plunged across maturities at yesterday’s bill auction, in response to the policy rate cut announced by the Central Bank last week.
The Central Bank last week slashed policy rates by 250 basis points to spur growth amid slowing inflation.
The three-month bill yields fell by 244 basis points to 23.21 percent while the six-month bill yields fell by 339 basis points to 21.90 percent.
The 12-month bill yields fell the most by 387 basis points to 19.10 percent.
The Central Bank offered Rs.140 billion – Rs.65 billion in three-month bills, Rs.30 billion in six-month bills and Rs.45 billion in 12-month bills. The entire offering was accepted in the same order.