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State borrows money at negative rates

ONCE again, the state borrowed money at negative rates on February 15, with the minimum interest rate in an auction of government bonds maturing on November 28, 2018 standing at minus 0.1959 percent p.a..

Illustrative stock photo(Source: Sme)

The average interest rate in the auction was also negative, standing at minus 0.1168 percent p.a., while the highest interest rate amounted to 0.0801 percent p.a., the TASR newswire cited the Debt and Liquidity Management Agency (ARDAL).

ARDAL accepted investors’ bids totalling €239 million, with €159 million coming from non-residents. Total demand in the auction reached €297 million, including €194 million from foreign entities.

In another government bond auction, maturing on January 21, 2027, ARDAL accepted bids at €134 million, of which €79 million came from non-residents. Total demand in the auction was €169 million. Interest rates in this auction moved within positive territory, with the minimum interest rate at 0.7761 percent p.a., the average at 0.8367 percent p.a. and the highest at 0.8700 percent p.a., TASR wrote.

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