Treasury bills last week were undersubscribed for the fourth week in a row, with the overall subscription rate falling to 40.5 per cent from 64.6 per cent recorded previously.
The subscription rates for the 91-, 182-, and 364-day papers came in at 39.8 per cent, 47 per cent and 34.3 per cent compared to 24.1 per cent, 47.5 per cent and 97.8 per cent respectively recorded the previous week.
Yields on the three papers remained unchanged from the previous week at 8.2 per cent, 10.3 per cent and 10.9 per cent respectively. Since July, Treasury bills subscription has remained low due to liquidity drought in the market.
Last month, subscription rates for the 91-, 182-, and 364-days Treasury bills came in at 59.9 per cent, 76.5 per cent and 52.6 per cent from 264.5 per cent, 172.4 per cent and 104.5 per cent in June, respectively.
Market analysts said CBK remained disciplined in stabilising interest rates in the auction by rejecting aggressive bids, leading to a decline in the overall bids.
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