MoF rejects high rates

MoF rejects high rates



14 січня 2015 года
ICU

Following the holiday break, the MoF yesterday held the second primary auction this year, offering a similar set of bonds as it replaced only the 3-month with a 6-month maturity and continued with the 2-year and 5-year maturities. The MoF rejected the two bids at 19% and 20% for a total of UAH307.49m at yesterday's auction.

With only UAH1.09bn in debt repayments (UAH0.70bn in local currency) scheduled for today, the MoF need not use domestic QE. However, yesterday's demand was insufficient to cover today's debt repayments.

Even at short-term maturities, market rates are too high for the MoF to accept.

Источник: ICU

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