22/04/2004 15:34
The annual yield of the 13-week Treasury Bills sold by the Central Bank of Cyprus on Wednesday reached 3.98%. According to a CB announcement, the total value of the bids submitted was £21 million. All bids were accepted (£100mln).
The lowest annual yield was 4.05% and the highest 3.7%. It is noted that since the last action of 13-week T-bills carried out in 2003, the average return has increased by 0.5%. According to economic analysts, the increase in the cost of state borrowing is mostly attributable to the increasing finance needs, the latest developments on the Cyprus issue and a precautionary act on behalf of the Central Bank, which noticed an increased capital outflow abroad.
The lowest annual yield was 4.05% and the highest 3.7%. It is noted that since the last action of 13-week T-bills carried out in 2003, the average return has increased by 0.5%. According to economic analysts, the increase in the cost of state borrowing is mostly attributable to the increasing finance needs, the latest developments on the Cyprus issue and a precautionary act on behalf of the Central Bank, which noticed an increased capital outflow abroad.
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