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Interest Rate Update (April 2017)

The following graph shows movements in both the 3 month and 3 year Bank Bill yield rates, for the period January 2006 to March 2017.

These rates are wholesale rates which are net of any margin charged by financial institutions.

Currently the 3 month wholesale Bill rate is 1.84% pa and the 3 year wholesale Bill rate is 2.05% pa, a premium of 0.21% pa or 21 basis points for the longer term. The premium for the forward rate suggests that rates are more likely to rise than fall in the medium term.