NBE Holds First OMO Auction, Collects Birr 19.97B
Summary
The National Bank of Ethiopia conducted its first-ever Open Market Operations auction on July 10, 2024. The liquidity-absorbing auction attracted 16 bidders at the National Bank Rate of 15 percent and collected cumulative bids of Birr 19.970 Billion. This inaugural auction follows the announcement of NBE's new Monetary Policy Framework earlier in the week.
“The auction, which was a liquidity absorbing exercise, attracted 16 bidders at the offered National Bank Rate (NBR) of 15 percent and collected cumulative bids of Birr 19.970 Billion.”
What changed
The National Bank of Ethiopia successfully conducted its inaugural Open Market Operations auction, a liquidity-absorbing exercise marking a new mechanism in the country's monetary policy toolkit. The auction collected Birr 19.970 billion in bids from 16 participants at the offered National Bank Rate of 15 percent.
Commercial banks and other financial institutions participating in Ethiopia's money markets should note this as the operational launch of a new indirect monetary policy instrument. The stated next auction date of July 25, 2024 signals regular OMO operations going forward, establishing an ongoing channel through which NBE will manage banking-sector liquidity.
Archived snapshot
Apr 21, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
Open Market Operations Announcement of Scheduled Auction
- July 10, 2024 NBE’s first-ever Open Market Operations auction was successfully held today, following the announcement of a new Monetary Policy Framework earlier this week.
The auction, which was a liquidity absorbing exercise, attracted 16 bidders at the offered National Bank Rate (NBR) of 15 percent and collected cumulative bids of Birr 19.970 Billion.
The next OMO auction will be held in two weeks time on July 25, 2024.
1st-OMO-Acuction-annoucemnt1-1 Download 1st-OMO-Acuction-Result-1 Download
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