Croatia C-Bank Approves Bids Worth 4.122 Bln Kuna (576.0 Mln Euro) in Revrepo Auction, Rate Rises

Bids worth a total of some 5.315 billion kuna were placed in the auction, the central bank said in a statement.

The weighted repo rate rose to 7.07% from 6.0% in the previous auction held on October 9. The repo rate of bids ranged from 5.25% to 7.51%. The marginal rate for all of the accepted bids was 6.75%.

At the reverse repo auction last week the central bank accepted all some 4.943 billion kuna worth of bids placed. The marginal rate then also stood at 5.05%.

The Croatian central bank launched open market operations in April 2005 using T-bills as collateral and aiming to manage liquidity better and prevent sharp changes in interest rates.

(1 euro= 7.1562 Croatian kuna)