Interest rates neared 36% on the money market, though fell short of the October 2022 inflation of 40.4%.
This indicates that the return on investments remains negative.
According to the results of the treasury bills auction, the government for the first time in six weeks running recorded an oversubscription.
This could signal some level of investor confidence as government negotiates a deal with the International Monetary Fund for a programme. Again, liquidity has witnessed some improvement.
Indeed, the government secured about ¢1.65 billion, 41.7% increase in the sale of the short-term securities.
A chunk of the sale came from the 91-day T-bills, where about ¢1.38 billon was mobilised by the government. The bids tendered were ¢1.38 billon which the government accepted all.
This came at a yield of 35.19%, higher than 34.3% the previous week.
For the 182-day Treasury bills, the bids tendered were ¢274.99 million, which government accepted all. The interest rate was 35.98%, 0.58% higher than the past week%.
Securities | Bids Tendered (GH¢) | Bids Accepted (GH¢) |
91 Day Bill | 1.381 billion | 1.381 billion |
182 Day Bill | 274.99 million | 274.99 million |
Total | 1.656 billion | 1.656 billion |
Target | 1.168 billion | 1.168 billion |
Latest Stories
-
Bawumia pushes for land digitisation to tackle land guard menace
2 mins -
Faith-based institutions are instrumental in national development – Bawumia
9 mins -
Upholding the Integrity of Presidential Promises: A call to Ghanaian leaders
17 mins -
I don’t start ‘beefs’; I only reply – Strongman refutes claims
20 mins -
Vice President Bawumia promises reforms to turn Ghana’s fortunes around
28 mins -
REGSEC warns encroachers along Tema-Sakumono Ramsar site as it races to prevent flooding
36 mins -
Kumasi International Airport to be commissioned ahead of time – Transport Ministry
43 mins -
Vomit your loot now or hold onto it and face the consequences – Asiedu Nketiah to Akufo-Addo, NPP
53 mins -
Democracy is going to reverse in West Africa if we don’t tackle economic hardships – Atuguba
2 hours -
Bawumia commissions 124 housing units for victims of Appiatse disaster
2 hours -
Stonebwoy’s The Livingstone Foundation surprises talented autistic boy with gifts
2 hours -
NPP should’ve referred Kingsley Nyarko’s bribery allegation to the police – Inusah Fuseini
2 hours -
Police pursue gunmen for killing 2 off-duty officers at Trasacco
3 hours -
Bayer Leverkusen beat Roma to win semifinal first leg
3 hours -
Aston Villa face tough task after 2-4 defeat to Olympiacos
3 hours