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
-
Refrain from unauthorised fiat currency wallet services – BoG to banks, electronic money issuers
33 minutes -
Kofi Matthew warns TEIN-UCC against allowing their potential to be exploited for others’ personal battles
40 minutes -
Ghana, EU seek closer cooperation on export compliance and market access
44 minutes -
KNUST Nkabom Collaborative opens pitch session to support young agripreneurs with business funding
3 hours -
Former Foreign Affairs minister and Ex-ECOWAS Commission President James Victor Gbeho dies at 91
4 hours -
Illegal dumpsite washed into Weija Lake after floods, raising public health fears
4 hours -
NACOC partners GJA to combat substance abuse and illicit drug trafficking in Ghana
4 hours -
Football’s greatest legends prepare for their final World Cup
4 hours -
Sammi Awuku questions whether GTA board chair Gertrude Donkor meets Tourism Act private sector requirement
4 hours -
Providence turns red, gold and green as Tribe Culturefest ignites Ghana’s World Cup fever
4 hours -
Asantehene to attend tribe Culturefest’s fan festival at Toronto’s Sankofa Square
4 hours -
Former Chief Justice Sophia Akuffo resigns from the Council of State
6 hours -
Health workers struggle to contain Ebola in Congo camps as distrust grows
6 hours -
Richie Mensah unveils ‘The Octave’ as latest addition to Lynx Electronics family
6 hours -
Motorists, pedestrians alarmed over faulty streetlights on Achimota Forest stretch
6 hours