The 12-Month Bill auction represents the issuance of short-term government debt securities, often referred to as T-bills, with a maturity of one year. These instruments are used by governments to manage short-term cash flow requirements and are considered low-risk investments. The yield determined at this auction is a key reference for other short-term interest rates in the economy. It is highly sensitive to the immediate monetary policy outlook and liquidity levels in the banking system.
The auction is typically conducted on a discount basis, where the bills are sold for less than their face value and the return is the difference at maturity. Bidding is usually restricted to primary dealers and institutional investors through a centralized electronic platform.
| Date | Actual | Forecast | Surprise |
|---|---|---|---|
| Apr 8, 2026 | 2.32 | — | — |
| Mar 18, 2026 | 2.15 | — | — |
| Jan 7, 2026 | 1.99 | — | — |
| Dec 3, 2025 | 1.99 | — | — |
| Nov 19, 2025 | 1.99 | — | — |
| Nov 5, 2025 | 1.98 | — | — |
| Oct 15, 2025 | 1.97 | — | — |
| Oct 1, 2025 | 1.99 | — | — |
| Sep 17, 2025 | 1.96 | — | — |
| Sep 3, 2025 | 1.97 | — | — |
| Aug 6, 2025 | 1.95 | — | — |
| Jul 16, 2025 | 1.93 | — | — |
| Jul 2, 2025 | 1.93 | — | — |
| Jun 18, 2025 | 1.96 | — | — |
| Jun 4, 2025 | 1.94 | — | — |
| May 21, 2025 | 2.00 | — | — |
| May 7, 2025 | 1.96 | — | — |
| Apr 16, 2025 | 2.12 | — | — |
| Apr 2, 2025 | 2.22 | — | — |
| Mar 19, 2025 | 2.30 | — | — |
| Mar 5, 2025 | 2.34 | — | — |
| Feb 19, 2025 | 2.35 | — | — |
| Feb 5, 2025 | 2.35 | — | — |
| Jan 22, 2025 | 2.50 | — | — |
| Jan 8, 2025 | 2.54 | — | — |
| Dec 4, 2024 | 2.63 | — | — |
| Nov 20, 2024 | 2.78 | — | — |
| Nov 6, 2024 | 2.81 | — | — |
| Oct 16, 2024 | 2.98 | — | — |
| Oct 2, 2024 | 2.97 | — | — |
| Sep 18, 2024 | 3.22 | — | — |
| Sep 4, 2024 | 3.26 | — | — |
| Aug 7, 2024 | 3.35 | — | — |
| Jul 17, 2024 | 3.50 | — | — |
| Jul 3, 2024 | 3.56 | — | — |
| Jun 5, 2024 | 3.57 | — | — |
| May 22, 2024 | 3.62 | — | — |
| May 8, 2024 | 3.63 | — | — |
| Apr 17, 2024 | 3.67 | — | — |
| Apr 3, 2024 | 3.65 | — | — |
| Mar 20, 2024 | 3.73 | — | — |
| Mar 6, 2024 | 3.72 | — | — |
| Feb 21, 2024 | 3.72 | — | — |
| Feb 7, 2024 | 3.69 | — | — |
| Jan 24, 2024 | 3.72 | — | — |
| Jan 17, 2024 | 3.69 | — | — |
| Dec 6, 2023 | 3.66 | — | — |
| Nov 22, 2023 | 3.74 | — | — |
| Nov 8, 2023 | 3.75 | — | — |
| Oct 18, 2023 | 3.79 | — | — |
