Friday 23 March 2018

NTMA borrowing costs rise on last month

Thomas Molloy

Thomas Molloy

The NTMA borrowed money at a much higher cost than this time last month.

The higher borrowing costs reflect recent increases in the cost of borrowing for most countries as investors start to worry again about the safety of their money.


Announcements from the US Federal Reserve last night also stoked fears about the future, pushing up borrowing costs and pushing down shares.


The NTMA said it completed an auction of Irish Treasury Bills, selling the target amount of €500m.


Total bids received amounted to €1.46bn which was 2.9 times the amount on offer.


The Treasury Bills, which allow the government to borrow for three months, were sold at an annualised yield of 0.2pc.


That was much higher than the rate of 0.129pc secured in a similar auction last month.


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