Italy's one-year debt costs inch up as liquidity shrinks
MILAN Dec 11 (Reuters) - Italy's one-year borrowing costs edged up to 0.707 percent at auction on Wednesday from a month earlier, pushed higher by reduced liquidity on money markets as euro zone banks move to repay longer-term loans by the European Central Bank.
The Treasury last sold 12-month bills in mid-November, paying a euro era record low yield of 0.688 percent, shortly after the ECB cut its benchmark interest rate.
On Wednesday, Italy sold the planned 5.5 billion euros in bills, with requests totalling 1.6 times that amount. The previous auction was covered 1.8 times.
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