The new week did not bring changes in the relationship between supply and demand in the Money Market, so today, as on Friday, there remained an uncovered demand of 400 million kuna, and the average interest rate jumped above 16 percent.
Demand today was approximately 15 million kuna lower than on Friday, amounting to 532 million kuna. Supply also fell by about 15 million kuna, totaling 132 million kuna. Most of the turnover, 109.5 million kuna, consisted of overnight loans, where the interest rate jumped from 15.87 percent, which was the rate on Friday, to 16.34 percent. For a one-week term, 19.5 million kuna was placed at a rate of 15.18 percent, which is an increase of 0.66 percentage points compared to Friday. For a two-week term, three million kuna was placed at an interest rate of 15.5 percent.
The total turnover on the Zagreb Money Market today amounted to 132 million kuna, with the average interest rate rising from 15.77 percent, which was the rate on Friday, to 16.15 percent. As interest rates began to rise significantly during October, the average interest rate in the previous month was 9.81 percent, which is considerably higher than the average cost of money in the preceding months. In September, for example, the average interest rate was 4.80 percent. (Hina)
