Interest rates on the treasury market were mixed, according to the latest Treasury bill auction by the Bank of Ghana.

This ended the four-week continuous rise on the yield curve.

The results showed that the 91-day T bill went for 19.94%, as against 19.96% the previous week.

That of the 182 T-bill increased by 0.14% to 22.71%.

Though interest rates have remained relatively stable, some analysts are still worried that the rates and may affect the government quest to reduce the deficit financing in 2023 and the next couple of years.

Investment bank, IC Securities earlier said in the near-term, the government continued dependence on the money market, without an active primary bond market, will hold yields elevated around current levels of between 19.0% – 27.0%.

Meanwhile, government secured ¢2.06 billion from the sale of the short-term securities, about 30.4% oversubscription over the targeted amount of ¢1.585 billion

Again, majority of the bids came from the 91-day T-bills as investors are mindful of the risk of the high interest payment.

¢1.530 billion were tendered by the investors in which all the bids were accepted.

Also, ¢538.13 million of the 182-day bills were tendered, but ¢537.02 million were accepted.