Interest rates jumped by 0.30 pct to 0.70 pct, now it is at 16 months high

The rates of T-bills across all maturities jumped substantially 91 Days from 6.38% to 6.70%, 182Days 6.27% to 6.99% and 364Days from 6.50% to 7.01%. CBSL offered LKR 51.5Bn to collect LKR 34.4Bn and managed to attract LKR 31.2Bn. The 1Y T-bill rate has elevated 1.68% since CBSL last rate hike. New governor removed the celling placed on primary auction rates and allowed the market to decide the benchmarked T-bill rates.