Sri Lanka treasury rates flat ahead of policy speech

Jan 02, 2008 (LBO) – Sri Lanka’s Treasury bill yields were flat at Wednesday’s auction ahead of a key monetary policy speech by Governor Nivard Cabraal, the government’s debt office said.

Three month treasury yields remained at 21.30 percent, 6-months 19.99 percent and 12-months 19.96 percent.

The debt office, which is run by the Central Bank said the government raised 7.2 billion from the market and retired 8.2 billion rupees of maturing bills.

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The government debt office was offering bonds maturing in early 2009 at around 19.90 levels and later maturities around at lower rates.

On Tuesday market was active on 2009 bond with yields dropping to 19.

50 percent but later picked up to 19.90 levels, dealers said.

Earlier in the day overnight money peaked at 20 percent but fell to 14.00 percent levels with liquidity improving.

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