Sri Lanka Treasury Bill rates are allowed to increase further

After CBSL increased the Cap rate on 364 Days T-bill at the primary auction, the yields increased to 5.25% from 5.28%. But CBSL only managed to sell LKR 283Mn worth of the 364days bills at the auction. CBSL is finding difficult to raise 364days money at the current yield as investors expect higher premium against 91days rate due to interest rate risk.