Question 5 (i) Briey explain with the aid of diagrams of the money market and Treasury bill market what happens when the central bank conducts a contractionary open market operation. [4 marks] (ii) Explain the \"Announcement effect\" of a rise in short term (3 month interest rates) from 8.16% (3 month TBills $98) to 12.37% (3 month Tbills $97) by the monetary policy committee using a money supply and demand diagram and a Treasury bill diagram. [6 marks]