Interest Rate Update (April 2013)

The following graph shows movements in both the 3 month and 3 year Bank Bill yield rates, for the period January 2006 to April 2013.

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

Recently the long term rate has lifted above the 3 month rate, an indication that the fall in rates may be coming to an end.

Currently the 3 month wholesale Bill rate is 3.07% pa and the 3 year wholesale Bill rate is 3.22% pa, a premium of 0.15% pa or 15 basis points for the longer term.