Jordan's central bank (CBJ) issued on Jan 29 JOD 50mn ( USD 71mn ) worth of two-year T-bonds in its seventh domestic debt issue in 2014, the bank said. The papers mature on Jan 29, 2016 . The issue was 3.12-times oversubscribed luring JOD 156mn worth of offers, reflecting strong local banks demand for risk-free securities. This helped cut the final average yield to 4.341% from the 4.956% offered at the previous such auction held in December last year. On January 20 , the CBJ slashed its key interest rates by 25bps. The CBJ's deposit window interest rate now stands at 3.25% (down from the previous 3.50%) and the repo rate was cut to 4.00%. The rediscount rate was reduced to 4.25%. Jordan's net domestic public debt (gross outstanding domestic public debt minus government deposits in banks) rose 1.8% ytd to JOD 11.86bn at end-November 2013 , comprising 49.4% of the full-year GDP. It is worth noting that the Treasury has reduced its domestic borrowing since November 2013 after it sold a USD 1.25bn of seven-year Eurobonds earning a 2.503% coupon.
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