013 billion rupees.
Maturity | Bids received | Amount accepted | Weighted avg. yield | |
(Rs. mn) | (Rs. mn) | This week | Last week | |
Three months | 8,596 | 3,383 | 11.25 | 10.75 |
Six months | 4,584 | 475 | 11.29 | 10.79 |
One-year | 4,486 | 1,155 | 11.36 | 10.86 |
Total | 17,666 | 5,013 | 11.28 | - |
(Source: Central Bank) |
Market players had sent in bids worth 17.666 billion rupees.
The bank bought the remaining 7.070 billion rupees worth of bills.
The auction results prompted market speculation that the bank may hike policy rates between 25-50 basis points to stamp out inflation and curb credit expansion, when the monthly review is announced on Thursday.
Sri Lanka's inflation rate rose to 15.
4 percent in Sept from 15.3 percent in August, as an upward revision in fuel and electricity tariffs pushed consumer prices up.
The central bank’s unscheduled 50 basis point increase last month has taken the repurchase (repo) and reverse repo (reverse repurchase) rate up to 87.
50 basis points.
The repo rate is now stands at 9.
625 percent and the reverse repo is at 11.
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125 percent.
The reverse repo is used to manage liquidity and contain inflation, while the repo is used to lend to commercial banks.
"If inflationary pressure doesn't taper off with the last rate hike, further increases may be warranted between November and the end of the year," First Capital Group said in a report on Tuesday.