The Monetary Policy reforms implemented in April 2022 entailed changes to some of the operations. One of the changes was that in June 2022, a new 1-month BoBC will be introduced to address any structural liquidity position in the market, while also supporting construction of the short-end of the yield curve since government securities are not issued for this tenor. The market will also appreciate that this instrument provides for price discovery for this particular tenor. Therefore, the inaugural 1-month BoBC was issued on June 28, 2022, at a stop-out yield of 2.34 percent, which will be in place until the next auction for the paper.
The Monetary Policy Rate (MoPR) was unchanged at 2.15 percent, from the previous week, for a paper maturing on July 13, 2022.
The summarised results of the auction held on July 5, 2022 are attached below: