T-bills auction: Government misses target for 3rd consecutive week; interest rates remain steady

The government missed its treasury bills target for the third consecutive week, as liquidity remained relatively tight on the money market.

According to auction results from the Bank of Ghana, it got GH¢4.062 billion from the sale of the T-bills as against a target of GH¢ 4.779 billion. This is about a 15% decline.

Approximately GH¢2.404 billion came from the 91-day bill, representing 59.1%.

The uptake represented all the bids tendered for the auction.

For the 182-day bill, GH¢1.179 billion were tendered and all were accepted.

About GH¢ 477.58 million were also bids tendered for the 364-day bill. All were accepted.

Meanwhile, interest rates remain relatively steady.

The yield on the 91-day was unchanged at 24.78%.

For the 182-day bill, it went up marginally by 3 basis points to 26.74%.

That of the 364-day bill fell slightly to 27.75% from the preceding week’s 27.80%.

SECURITIES	BIDS TENDERED (GH¢)	BIDS ACCEPTED (GH¢)
91 Day Bill	2.404 billion	2.404 billion
182 Day Bill	1.179 billion	1.179 billion
364 Day Bill	477.58 million	477.58 million

Total	4.062 billion
Target	4.779 billion

DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.

Tags: