Interest rates have begun recording some relative stability, following the government’s decision to get economic support from the International Monetary Fund.
At the same time, the government achieved 75% oversubscription of the weekly Treasury bills sale.
It’s welcoming that interest rates have begun stabilising after weeks of consistent increase.
This indicates that the economic assistance being sought from the IMF by the government will impact positively on the economy.
It is expected that liquidity will improve in the market, in the coming weeks.
According to the auctioning results by the Bank of Ghana, the interest rate on the 91-day Treasury bills stood at 25.88%, compared with 25.6% a week ago.
That of the 91-day T-bills was also pegged at 26.55%, as against 26.4% the previous week.
Meanwhile, the government achieved an oversubscription of 75% from the sale of the short-term instruments.
It secured ¢926.5 million, from a target of ¢529 million.
Chunk of the amount was mobilised from the 91-day T-bills.
Securities | Bids Tendered (GH¢) | Bids Accepted (GH¢) | Interest rate |
91 Day Bill | 649.86 million | 597.76 million | 25.88% |
182 Day Bill | 276.65 million | 229.77 million | 26.55% |
Total | 926.51 million | 827.53million | |
Target | 529 million |
Latest Stories
-
Veep backs academic freedom, launches fresh call for university autonomy
1 hour -
Afia Ayiwah’s ‘Testify’ wins hearts as gospel fans embrace uplifting new single
2 hours -
Van-Etten club triumphs as Obuasi Cricket Festival end on a high
4 hours -
“Sometimes we didn’t see each other for a whole year” – Kuami Eugene on relationship with KiDi
4 hours -
I am still a minister of God – Kuami Eugene
4 hours -
Government won’t support creative arts because it’s not worth their time – Richie Mensah
4 hours -
My life turned around after a trip to Volta Region – Kuami Eugene
4 hours -
Breathe Easier with Better Nutrition – Eating to Fight Respiratory Infections
5 hours -
NDC’s Ashie Moore files lawsuit over alleged $3m fraud, denies wrongdoing
5 hours -
Abuakwa South MP urges President to halt new 21% Non-Life Insurance Tax
5 hours -
Politics of Stomach Stability: Power, Praise and Pretence
6 hours -
The Untapped Power of Ghana’s Indigenous Products
6 hours -
Bankers League Gala kicks off at Legon Stadium with thrilling group stage action
6 hours -
Slay Queen Economy — Data Over Degrees
6 hours -
Asantehene calls on African leaders to foster self-reliance through cooperation and intra-trade
6 hours