The Ministry of Finance (MoF) has added to the budget 101.1 million lei (about US$8.25 million) thanks to the state securities placement at an auction on Tuesday, July 3. While the MoF supply was 133 million, banks’ demand for government securities amounted to 215.9 million lei. The average yield on securities with 91, 182 and 364-day circulation made 5.28-6.74%. This government securities’ yield is somewhat over the level of the inflation, whose indicator reached 4.1% in May. The inflation in 2011 made 7.8%. The National Bank forecasted 6.5% inflation for this year, but it reduced the indicator to 4.9% yet in the end of January. The bank-forecasted inflation for 2013 makes 4.8%.
Infotag