sentences: meanwhile, treasury bill (t-bill) rates were generally lower during the 18 july 2005 auction compared to their levels on 11 july 2005. accelerated to 12.2 percent year-on-year in may 2005, based on depository corporations survey (dcs) from the 12.0 percent rise in the previous month.3 the 4.3 year-on-year growth recorded in april 2005. during the 18 july 2005 auction.