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
-
Demand and savings deposits decreased in August 2026, but currency outside banks increased by 4%
10 minutes -
Fiscal policy implementation poses downside risk to inflation – BoG
44 minutes -
Organised Labour should seek fair adjustment, not excessive pay rise – Labour consultant
48 minutes -
BoG maintains medium-term inflation target of 8 ± 2%
55 minutes -
Sammi Awuku urges NPP Germany to unite ahead of 2028 elections
2 hours -
The Inconvenient Truth: We cannot pray for the cure while protecting the disease
2 hours -
MTN Ghana trains civil society organisations on artificial intelligence
3 hours -
GoldBod FX framework aims to make dollar supply predictable – Acheampong
3 hours -
How does a Ghanaian team make it to the BAL?
4 hours -
Ghana’s investment climate presents opportunities for industrial growth and job creation.
4 hours -
‘I paid thousands to a company for jobs that never came’
4 hours -
SSNIT intensifies informal sector enrolment drive with Techiman float
4 hours -
Ghana seeks long-term mining investments that benefit local communities – Armah-Kofi Buah
4 hours -
GHATOF demands compensation for 85 businesses affected by La Pleasure Beach demolition
4 hours -
Bono Regional Minister calls for investor education to drive economic growth
4 hours