Interest rates fell for the second week running reflecting the ease in inflation.

Inflation went down to 35.20% in the month of October 2023, signaling that the days of rising interest rates were over.

According to auction results of Treasury bills by the Bank of Ghana, the government recorded a 14.75% oversubscription of the targeted amount.

The interest rate on the 91-day T-bill went down marginally to 29.74% from 29.84% the previous week.

That of the 182-day T-bill remained relatively the same at 31.87%.

The rate on the one year-bill however fell slightly to 33.445% from the preceding week’s 33.446%.

Meanwhile, the government received ¢3.748 billion from the sale of the T-bills as against a target of ¢3.266 billion.

About ¢2.452 billion came from the 91-day T-bill, representing 65.44% of the total transaction.

The 182-day T-bill received bids worth ¢568.49 million in which all were accepted.

The 364-day T-bill however received higher bids than the 6-month bill. All the bids of ¢726.81 million were accepted.