Government missed its Treasury bills auction target for the fourth week running, but liquidity improved comparatively to the past two weeks.
The government secured ¢1.23 billion against a target of ¢1.316 billion, about 6% under-subscription.
Though the government missed the target marginally, it was seeking to raise ¢1.124 billion across the 91-day to 364-day bills to refinance the T-bill maturities of ¢1.003 billion.
According to the auction results from the Bank of Ghana, the bids tendered in were estimated at ¢1.23 billion. All the bids were however accepted.
Chunk of the bids came from the 91-day treasury bills, as ¢1.073 billion were tendered in. The 182-day treasury bills also received bids worth ¢141.41 million.
According to data from the Bank of Ghana, the interest rate on the 182-day T-bill hit 34.85%, from 34.2% the previous week.
That of the 91-day bill also surged by 0.70% to 33.34%. The one-year bill sold at a rate of 34.85%, from 33.35% the prior week.
Despite a surging interest rates, there is still a negative real return between interest rates and inflation.
Inflation (September 2022) is presently hovering around 37.2%
Securities | Bids Tendered (GH¢) | Bids Accepted (GH¢) |
91 Day Bill | 1.073 billion | 1.073 billion |
182 Day Bill | 141.41 million | 141.41 million |
365 Day Bill | 21.73 million | 21.73 million |
Total | 1.236 billion | 1.236 billion |
Target | 1.316 billion | 1.316 billion |
Latest Stories
-
Paris 2024: Opening ceremony showcases grandiose celebration of French culture and diversity
2 hours -
How decline of Indian vultures led to 500,000 human deaths
3 hours -
Paris 2024: Ghana rocks ‘fabulous fugu’ at olympics opening ceremony
3 hours -
Trust Hospital faces financial strain with rising debt levels – Auditor-General’s report
3 hours -
Electrochem lease: Allocate portions of land to Songor people – Resident demand
4 hours -
82 widows receive financial aid from Chayil Foundation
4 hours -
The silent struggles: Female journalists grapple with Ghana’s high cost of living
4 hours -
BoG yet to make any payment to Service Ghana Auto Group
4 hours -
‘Crushed Young’: The Multimedia Group, JL Properties surprise accident victim’s family with fully-furnished apartment
5 hours -
Asante Kotoko needs structure that would outlive any administration – Opoku Nti
5 hours -
JoyNews exposé on Customs officials demanding bribes airs on July 29
6 hours -
JoyNews Impact Maker Awardee ships first consignment of honey from Kwahu Afram Plains
7 hours -
Joint committee under fire over report on salt mining lease granted Electrochem
7 hours -
Life Lounge with Edem Knight-Tay: Don’t be beaten the third time
7 hours -
Pro-NPP group launched to help ‘Break the 8’
7 hours