Interest rates on 2 T-bills raised

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FE Report
The interest rates on two treasury bills (T-bills) have been increased by 0.51 per cent following the latest upward adjustment of the interest rate on Repo, treasury officials said.
On Wednesday, the Bangladesh Bank (BB) increased its key policy interest rate after more than three years aiming to curb inflationary pressures on economy.
"We have offered higher interest rates on T-bills after increasing interest rate on Repo," a senior treasury official of a private commercial bank told the FE.
The 33rd auction of treasury bills (T-bills) of different maturities was held on Sunday with offering of Tk 2.50 billion and Tk 2.63 billion in grand total Tk 5.13 billion for the 91-day and 364-day bills respectively.
Of those, Tk 900 million and Tk 1.03 billion in grand total Tk 1.93 billion were accepted respectively for the 91-day and 364-day bills, according to the central bank press statement.
Tk 1.59 billion and Tk 1.47 billion were devolved on primary dealers (PDs) for the 91-day and 364-day bills.
The range of implicit yield (generally known as interest rate) of accepted bids were 7.81-7.85 per cent and 8.51-8.55 per cent per annum respectively, the statement added.
On September 14 last, the range of implicit yield of accepted bids were 7.75-7.81 per cent and 8.03-8.06 per cent per annum respectively.
Currently, three T-bills are being transacted through auctions to adjust the government borrowing from the banking system.
The T-bills have 91-day, 182-day and 364-day maturity periods.
The central bank earlier dropped the 28-day tenure T-bill from its auction system in line with the cash and debt management committee's recommendation.
A high-powered committee on cash and debt management, headed by the finance secretary, is now working on the separation of the cash management from that of the public debt management.