In line with a significant decline in inflation, interest rates returned to their downward path after going up for the second consecutive week.

The decrease in the rates is one of the biggest in recent times.

With inflation recording its biggest decline in 2023 to 26.4% in November 2023, interest rates fell across the yield curve.

According to the auction results by the Bank of Ghana, the rate on the 91-day T-bill eased to 29.04% from 29.58% the previous week.

The 182-day bill also went down to 31.96% from 31.13% previously.

Again, the one-year bill plummeted by 96 basis points to 32.49%.

Meanwhile, the government secured about ¢4.726 billion of the T-bills auction, about 18% oversubscription.

It however accepted ¢4.723 billion.

The 91-day bill was the most subscribed by ¢3.150 billion. This represented 66.6% of the total bids. All of the bids were accepted.

It was followed by the 364-day bill in which ¢794.44 million were tendered, but ¢791.75 million were accepted.

The 182-day bill saw a subscription of ¢782.05 million.