Ghana’s treasury yields have recorded more than 2.0 percentage points fall since the beginning of 2024.
This ranked it as the country with the biggest decline in interest rates among 11 top African countries.
The yield on treasury bills has been nose-diving since January 1, 2024, following the easing inflation in the last six months.
According to an overview of the treasury market, the rate on the 91-day bill has gone down by 2008 basis points to 27.8%.
This pushed the Egyptian short-term instrument with the highest interest rate in Africa.
Similarly, the yield on the 182-day bill has also eased by 2.20 percentage points since the beginning of the year to 29.75%.
At the same time, the yield on the 364-day bill has also reduced by about 2 percentage points to 30.29%.
The rates are expected to fall further in the coming months albeit marginally.
Last week, the government raised about GH¢6.26 billion as demand surpassed the target by about 11.28%.
Interest rates to remain high in most parts of 2024 - EIU
The Economist Intelligence Unit (EIU) is projecting high-interest rates in most parts of 2024 across the globe with wider margins.
In its Global Industry Outlook 2024, the UK-based firm said the high interest rates will remain the most important feature of financial markets in most major economies in 2024, even if a slight easing of monetary policy becomes possible towards the year’s end.
“Most central banks have lifted their base policy rates sharply since early 2022 in an effort to smother an inflationary spike. In some major markets—notably the US and the Eurozone — they have also run down portfolios of bonds purchased to bolster economies amid earlier economic weakness".
Latest Stories
-
Ghana’s Antoine Semenyo in contention for Bournemouth Supporters’ Player of the Season
21 mins -
I try to set good example for kids who look up to me in Ghana – Mohammed Kudus
23 mins -
Dr. Lawrence Tetteh to march on Jubilee House over Akufo-Addo’s refusal to assent to anti-LGBTQ+ bill
36 mins -
Ghanaian midfielder Jeffrey Schlupp extends Crystal Palace stay until 2025
39 mins -
Leading with AI: Empowering CEOs in Ghana for the future
43 mins -
Kumasi: Thousands of Suame Magazine artisans risk evacuation
1 hour -
Mrs Vivien Badu Antwi
1 hour -
Akufo-Addo, Asantehene to commission $300m Kumasi International Airport today
2 hours -
Guru begins bid for University of Ghana’s SRC presidency
2 hours -
My ‘Agric for Wealth’ policy is a game-changer for Ghanaian farmers – Presidential aspirant, George Twum-Barimah-Adu
2 hours -
Mistrust, poor communication to blame for NDC and EC contention – CDD’s Boateng Asiamah
2 hours -
All Regional Games: Asamoah Gyan walks flamed torch through Northern, Upper East and Bolgatanga
2 hours -
EC being economical with the truth – Dr Rashid Tanko-Computer
2 hours -
Ring cocoa prices may impact sweet tooth – SBM Intelligence report
3 hours -
Kofi Kinaata finally drops maiden EP ‘Kofi oo Kofi’
3 hours