The government missed its treasury bill target for the first time in 2025.

According to auction results by the Bank of Ghana, the government recorded an 18% under-subscription of the sale of the short-term instruments.

The government got GH¢4.99 billion from the T-bills auction. It however accepted GH¢ 3.31 billion.

A chunk of the bids came from the 91-day bill as GH¢ 3.63 billion, representing 72.7% of the total bids were tendered.

The 182-day bill however received bids worth GH¢741.38 million. However, the uptake was GH¢ 574.49 million.

For the 364-day bill, the bids tendered were estimated at GH¢ 622.7 million. However, GH¢406.07 million were accepted.

Meanwhile, interest rates remained relatively unchanged across the yield curve.

The yield on the 91-day T-bill fell by only 12 basis points to 15.85%.

However, that of the 182-day bill was unchanged at 16.92%.

The rate on the 364-day bill fell marginally to 18.84 from the previous week’s 18.96%.