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Macedonia's c-bank sells EUR 413.4mn of 28-day bills, keeps key rate at 3.25%.

February 13, 2014

Macedonia's central bank sold MKD 25.5bn (EUR 413.4mn) of 28-day central bank bills (CB bills) to commercial banks at a regular auction held on Wednesday, Feb 12, it said in a statement. The authority uses the bills to manage the liquidity of the banking system.

The central bank also kept the interest rate on the securities fixed at 3.25%. This is also Macedonia's key interest rate, which determines the monetary policy stance. The amount on offer was equal to the maturing amount of MKD 25.50bn. The demand was MKD 33.55bn.

The next auction of central bank bills is scheduled for Mar 12.

Macedonia is implementing a fixed exchange rate regime, with the central bank pegging the domestic currency to the euro.

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Source: IntelliNews - Weekly Reports

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