Treasury bill rates hit 25-year highs

• 364 day bill rate exceeds 23%

Consequent to the Central Bank hiking policy rates on Friday, the Treasury bill weighted averages were seen skyrocketing once again as the six month and one year maturities hit highs not seen in over 25 years at its auctions yesterday. 

Wealth Trust Securities said the 364 day bill increased by a staggering 767 basis points (7.67%) week on week to record a weighted average of 23.36% followed by the 182 day bill by 737 basis points (7.37%) to 22.73%. The 91 day increased by 559 basis points (5.59%) to 19.71%.  

Rate change saw the weighted average rates on overnight call money and repo increasing to 14.50% each yesterday against its previous days 7.49% and 7.50%. (See full story on Page 7)