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T-Bill rates surge over 100bps after CBSL Policy Rate hike; auction undersubscribed
Daily FT
|May 27, 2026
Secondary Bond market turns bearish; a quiet Rs. 240 b T-Bond auction in focus
Results of Treasury bill auction held on 22 May
AT the 03rd Monetary Policy Review for 2026 announced yesterday, the Central Bank of Sri Lanka (CBSL) decided to increase the Overnight Policy Rate (OPR) by 100 bps to 8.75%, marking the first-rate hike since the easing cycle concluded.
Yesterday's tightening comes after a pause stretching back to June 2025 and begins to reverse some of the cumulative 825 bps of policy easing implemented since June 2023. The Standing Deposit Facility Rate (SDFR) and Standing Lending Facility Rate (SLFR), linked to the OPR with pre-determined margins of +50 bps, were also increased to 8.25% and 9.25%, respectively.
At the weekly Treasury Bill auction conducted yesterday, rates were seen increasing for the second consecutive week. This reflected the bearish bias as well as the 100-basis point Monetary Policy rate hike. Accordingly, the weighted average yield rates on the 91-day tenor increased by 118 basis points to 9.36% and the 182-day tenor increased by 143 basis points to 9.68% and the 364-day tenor increased by 134 basis points to 9.83%. Rates were seen rising to highest level in around 79 weeks since late November 2024.
Cette histoire est tirée de l'édition May 27, 2026 de Daily FT.
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