Interest rates fell for 10 consecutive weeks, as demand for treasury bills continued to remain high despite the upside risks.

As predicted by many analysts, interest rates plummeted to reflect the lower inflation.

The yield on the 91-day bill fell by 25 basis points to 26.74%.

That of the 182-day also eased to 29.24% from 29.49% the previous week.

Similarly, the 364-day bill went down by 16 basis points to 29.84%.

Meanwhile, the government accepted all the bids tendered to the tune of GH¢4.83 billion. This is about 12% oversubscription.

For the 91-day bill, about GH¢2.72 billion were tendered, representing 56.3% of the total bids. The uptake was also GH¢2.72 billion.

For the 182-day bill, all the GH¢919.40 million of the bids were accepted.

The same applies to the 364-day bill in which all the GH¢1.18 billion were accepted.

Yields fell sharply in February 2024

Yields fell sharply in February 2024 as the strong money market liquidity outweighed any upside risk from the unexpected uptick in the January 2024 inflation.

The 91-day yield trimmed 131 basis points month-on-month to 27.3%.

The 182-day went down by 135 basis points to 29.8%, while the 364-day yield fell by 150 basis points to 30.3%.