Demand in the Zagreb Money Market has significantly increased today, reaching 564 million kuna, leaving 450 million kuna of demand uncovered, which is 150 million more than yesterday. The increase in demand of over 35 percent is a result of yesterday’s rejection by the Croatian National Bank of all banks’ requests for funds at the regular repo auction.
The supply, on the other hand, remained at yesterday’s levels, at 114 million kuna. The majority of the turnover, 97 million kuna, consisted of overnight loans, with the interest rate rising from yesterday’s 4.65 to 6.09 percent. For a term of one week, 17 million kuna was placed at a rate of 6.41 percent, which is 0.20 percentage points higher than yesterday. The total turnover in the Zagreb Money Market today amounted to 114 million kuna, with the average interest rate jumping to 6.14 percent, which is an increase of 1.24 percentage points compared to yesterday. (H)
