Croatian C-Bank Approves 75.6% of Bids in Revrepo Auction, Weighted Rate Up

The weighted repo rate was 7.53%, up from 6.92%, achieved at the previous auction held on October 22, the central bank said in a statement.

The repo rate of bids ranged from 6.85% to 8.00% on Wednesday. The marginal rate for the accepted bids was 7.50%, up from 6.50% two weeks ago.

The percentage of accepted bids at marginal repo rate stood at 75.00% at the auction on Wednesday.

Last week the central bank skipped its reverse repo auction and rejected all offers at a currency auction called to buy euro from commercial banks to ease their liquidity constrains.

At the reverse repo auction on October 22, the bank approved all bids for Treasury bills worth some 4.502 billion kuna.

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 interest rate fluctuations.

(1 euro = 7.1361 Croatian kuna)