BoA: The decline in treasury bill interest rates reduced the price of credit for individuals and businesses!
The Bank of Albania announces that the interest rate on treasury bills marked a slight increase in Tuesday's auction.
According to the BoA, 10.5 billion lek of treasury bills were sold in this week's auction, with a weighted average interest rate (yield) of 2.81%, down from 2.78% last week.
She also notes that yields remain at levels lower than the lek's base rate of 3%.
According to the BoA, treasury bill yields are also used as reference instruments for loans in lek, which means that the decline in treasury bill interest rates has influenced the reduction in the price of loans for individuals and businesses, promoting the growth of lending to the economy.
At the end of November, lending to the economy increased by 14% on an annual basis, marking the highest growth in the last decade.
The BoA announces that the decrease in the interest rate on treasury bills addresses supply and demand, as the market appears liquid and ready for financing.
Treasury bills are debt securities issued by the Government, represented by the Ministry of Finance. In Albania, treasury bills are issued with maturities of 3, 6 and 12 months.
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