By Islam Salim
Doha-Mubasher: The Central Bank of Qatar (CBQ) has cancelled the monthly treasury bill auction which was scheduled for Tuesday, 2 February.
The move comes in an attempt to reduce the pressures mounted over falling oil prices and aimed at raising interest rates, a situation that in turn led to shrinking cash flows, a CBQ source told Mubasher.
He added that the bank was expected to sell T-bills at a total value of QAR 4 billion ($1.1 billion).
Economist Faisal Al-Olayan said these securities contribute to offering new investment instruments to banks, in addition to having no risks compered to investment in the global markets.
"In my point of view, the sale cancelation reflects a decline in the banking sector's liquidity and a rise in interest rate, he added.
Translated by Abdul Maguid Aboshahla
