Interest Rate on 3-month US Treasury Bills Down to Lowest Level

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Last updated at: (Beijing Time) Tuesday, January 14, 2003

Interest Rate on 3-month US Treasury Bills Down to Lowest Level

Interest rates on short-term Treasury bills in the United States declined in Monday's auction, with the three-month rate falling to its lowest level since 1958.

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Interest rates on short-term Treasury bills in the United States declined in Monday's auction, with the three-month rate falling to its lowest level since 1958.

The US Treasury Department auctioned 16 billion dollars in three-month bills at a discount rate of 1.180 percent. The three-month rate was down from 1.185 percent last week and was the lowest since the bills averaged 1.164 percent on Aug. 4, 1958.

Another 15 billion US dollars in six-month bills was auctioned at a discount rate of 1.230 percent. The rate was down from 1.240 percent last week, the lowest since 1.220 percent on Dec. 30 last year.

In a separate report, the US Federal Reserve said on Monday that the average yield for one-year Treasury bills, the most popular index for making changes in adjustable rate mortgages, rose to 1.41 percent last week from 1.38 percent the previous week.

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