In line with the press release dated 16 July 2002, the National Treasury indicated that it would analyse the impact of widening the bid-offer spread on selected bonds.
The National Treasury stated that it reserves the right to move back to the original position, if in its opinion, and in the views of market participants, the market was negatively affected.
Since the widening of the bid-offer spread was implemented on 31 August 2002, the analysis and market opinion, indicate that the performance of Primary Dealers has not been affected by this decision. For this reason the National Treasury has resolved to maintain the spread.
Mr Phakamani Hadebe Chief Director: Liability Management Phone: (012) 315 5486 E-mail: phakamani.hadebe@treasury.gov.