Audio By Carbonatix
Interest rates shot up marginally again for the third week running, as the market corrects itself to reflect the prevailing economic condition.
According to the auction results, the yield on the 91-day and 182-day T-bills inched up slightly.
Whilst the 91-day T-bill went up by 0.05% to 19.79%, that of the 182-day bill increased to 22.47%, from 22.24% the previous week.
But the one-year (364-day) bill went down by 0.05% to 26.90%.
Government is hoping to reduce its interest costs substantially this year and the next couple of years, and therefore the high interest rate is a concern.
Meanwhile, the government secured ¢1.79 billion from the sale of the short term instruments, about 7.5% oversubscription of the targeted amount of ¢1.666 billion.
Chunk of the bids came from the 91-day T-bill, whereby ¢1.47 billion were tendered. All the bids were accepted.
About ¢227 million were also received for the 182-day T-bill. Again, all the bids were accepted.
All of the ¢87.81 million bids for the 364-day bill was also accepted.
| Securities | Bids Tendered (GH¢) | Bids Accepted (GH¢) |
| 91 Day Bill | 1.476 billion | 1.476 billion |
| 182 Day Bill | 227.11 million | 227.11 million |
| 364 Day Bill | 87.81 | 87.81 |
| Total | 1.79 billion | 1.79 billion |
| Targeted | 1.666 billion |
Latest Stories
-
Anti-LGBTQ Bill: Forget the rumour mongers, I’m a man of action, and will pass the bill – Speaker
15 minutes -
Women and children among those killed in Sudanese army shelling of wedding celebration
18 minutes -
President Mahama is not sincere with Ghanaians on LGBTQ bill matter – Hassan Tampuli
36 minutes -
Gov’t to establish Prison Industrial Hub to equip inmates with income-generating skills – Prison Service boss
55 minutes -
Alhassan Tampuli donates cement, roofing sheets to support storm victims in Gushegu
55 minutes -
Alhassan Tampuli appeals for urgent support for storm victims in Gushegu
58 minutes -
The hypocrisy must stop; pass Anti-LGBTQ+ Bill now – Alhassan Tampuli to Mahama
1 hour -
Imprisonment should be rehabilitative, not punitive – Ghana Prisons boss at UNGA
1 hour -
Ga Adangbe traditional priests petition Mahama over McDan aviation licence revocation
2 hours -
Anti-LGBTQ Bill: NDC’s arrogance is worrying – Hassan Tampuli
2 hours -
Let’s give OSP time to mature, not to scrap it – Hassan Tampuli
2 hours -
Nigeria convicts 386 Islamist militants in mass trials
2 hours -
Djibouti president wins election with 97.8% of vote, state media says
2 hours -
We don’t have mandate to deduct tax from rent allowance of security services personnel – Interior Ministry clarifies
2 hours -
Ablakwa receives Presidential Special Envoy on Reparations to advance global agenda
3 hours