Audio By Carbonatix
The government borrowed GH¢22.06 billion via treasury bills in January 2024.
This is about 35.80% more than the targeted amount of GH¢15.13 billion.
The majority of the bids came from the 91-day T-bill.
Analysts expect the uptake trend to continue in February 2024 as the treasury heads for an estimated cash coupon payment of about GH¢4.3bn on the new bonds.
However, yields are expected to decline as the market aligns with the disinflation trend combined with the 100 basis points cut in the monetary policy rate during the January 2024 Monetary Policy Committee decision.
Last week, investors oversubscribed the treasury’s offer in money market auction, as total bids reached GH¢4.53 billion against a target of GH¢2.86 billion.
The government accepted all bids.
Yields declined further as the 91-day and 182-day contracted to 28.30% (- 29 basis points) and 30.79% (-30 basis points) respectively. The 364-day yield closed lower at 31.40% (-40 basis points).
Latest Stories
-
Ghana risks losing about US$630 million if government reduces lithium royalty rate from 10% to 5% – Africa Policy Lens warns
15 minutes -
Parliament approves budget allocations despite Minority’s chaotic scenes over Kpandai dispute
15 minutes -
GhanaFest Europe debuts in The Hague, showcasing trade and culture
30 minutes -
Commercial Curiosity: The Unseen Driver of Opportunity
54 minutes -
Mahama calls for public–private partnerships to make healthcare more accessible
1 hour -
Rules being twisted to perpetrate injustice – Oppong Nkrumah on NPP’s withdrawal of cooperation
1 hour -
Chaos erupts in Parliament as Minority storms centre of floor over Kpandai seat controversy
1 hour -
‘We won’t be distracted’ – Ayariga to Minority amid Kpandai protest
2 hours -
Cybele Energy becomes first African company to secure an oil block in Guyana
2 hours -
GSTS Alumni launches Golf Club to support and create opportunities for students
2 hours -
The 2026 crossroad: How Ghana can turn an energy crisis into an industrial renaissance
2 hours -
2026 World Cup: Ghana can compete with England in Group L – UK-based journalist
2 hours -
Minority threatens Parliamentary shutdown over Kpandai seat vacancy
3 hours -
The possible removal of EC Chair and others – a tale of two scenarios
3 hours -
Walewale Municipal Hospital forced to discharge man who was assaulted for alleged attempted theft
3 hours