Audio By Carbonatix
The government will borrow ¢1.34 billion on the Treasury market this Friday March 31, 2023.
This will be done through the issuance of the 91-day and 182-day Treasury bills.
However, the expected amount is far less than the ¢3.206 billion target last week
The uptake will be used to refinance maturing bills worth ¢1.28bn.
The Monetary Policy Committee of the Bank of Ghana increased the policy rate by 150 basis points to 29.50% to reinforce the pace of disinflation.
Additionally, the MPC reset domestic currency deposits' cash reserve ratio to 14.00%, from 12.00%.
Analysts believe investors will price the policy rate rise into their bids at the next T-bill auction, increasing the yields.
Last week, the government almost took up all the bids in its T-bill auction, raising ¢2.44bn.
Though the proceeds surpassed the refinancing obligation by 29.96%, it covered 76.15% of the auction target.
Yields on the 91-day and 182-day pushed up to 18.88% (+35 basis points) and 21.44% (17 basis points). However, the 364-day yield declined to 25.66%.
Latest Stories
-
GPL 2025/26: Asante Kotoko draw with GoldStars to extend winless run
22 minutes -
Fire guts temporary wooden structures at Afful Nkwanta in the Ashanti Region
1 hour -
Haruna Iddrisu didn’t approve gender identity content – Education Ministry
2 hours -
‘We are not for sale’: Thousands rally in Greenland and Denmark against Trump’s annexation threat
2 hours -
Deputy Education Minister directs GES to act on video of SHS students displaying charms
2 hours -
From camouflage to tracksuits – Guinea’s junta leader becomes civilian president
2 hours -
Iran supreme leader admits thousands killed during recent protests
2 hours -
Judiciary to roll out court decongestion measures, galamsey courts – Chief Justice
4 hours -
Ugandan leader to extend 40-year rule after being declared winner of contested poll
4 hours -
Residents demand action on abandoned Salaga–Kumdi–Kpandai road
4 hours -
Ghana, Japan explore ways to deepen long-standing bilateral ties
4 hours -
Ghana Navy foils illegal fuel bunkering operation along Volta coastline
5 hours -
Gov’t assures minimal power disruption during WAPCo gas pipeline maintenance
5 hours -
Burna Boy and Sporty Group unveil new single “For Everybody” celebrating Africa’s sports heritage and cultural excellence
5 hours -
Achieve By Petra partners Richie Mensah to drive financial independence
5 hours