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Treasury bill auction Friday after break

Last week, the Treasury bills were undersubscribed due to relatively tight liquidity in the money market.
Last week, the Treasury bills were undersubscribed due to relatively tight liquidity in the money market. FILE PHOTO | NMG 

The weekly Treasury bill auctions will be held Friday after the Central Bank of Kenya (CBK) suspended them by two days.

This followed the gazettement yesterday as a public holiday ahead of today’s fresh presidential election.

“Following the gazettement of Wednesday October 25, 2017 as a public holiday, the CBK wishes to announce the postponement of the Treasury bills auction ... to Friday October 27, 2017,” the CBK announced on Wednesday.

Treasury bill auctions happen on Wednesday and Thursday for the 91- and 182-day bills respectively. Today is also a holiday.

Last week, the Treasury bills were undersubscribed due to relatively tight liquidity in the money market.

The tight liquidity was due to heavy reverse repo maturities and tax transfer from banks.

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