Audio By Carbonatix
The government borrowed GH¢15.60 billion via treasury bills in April 2024.
This is 21.61% lower over March 2023.
The government underperformed its target in four out of the five auctions settled in Apr 2024.
It missed the gross monthly target by 9.73% and 3.90% below the matured bills.
However, it remained focused on trimming T-bill yields in Apr 2024.
Whilst, the 91-day shed 45 basis points to close at 25.55%, the 182 and 364-day yields lost 85 basis points each to end the month at 27.65% and 28.25% respectively.
Notable upside pressures remain from inflationary risk in the recent increase of ex-pump fuel and transport prices.
However, analysts expect the favourable inflation outlook to augur well for treasury yields in the money market.
Meanwhile, T-bills were oversubscribed in last week’s money market auction, as total bids exceeded the treasury’s target.
The treasury accepted all bids worth GH¢3.47 billion, above the auction target by 17.07% and matured bills by 26.74%.
Yields persisted southward, with the 91-day falling 10 basis points to 25.45%.
Latest Stories
-
Rocky Dawuni sounds alarm on Africa’s wars and youth exodus to Europe
14 minutes -
Head-on collision at Tuobodom leaves two dead
27 minutes -
Police officer found dead in suspected suicide at Akweteyman
1 hour -
McDan-GACL dispute could undermine investor confidence – GaDangme Coalition
2 hours -
Ex-Health Minister Agyemang Manu faces charges in the coming weeks over questionable COVID-19 deals – Ofosu Kwakye reveals
2 hours -
Papa Ajasco breaks down over legal traps and life in poverty
3 hours -
Ahafo ranks high in national health performance review; records significant gains in maternal and child health
3 hours -
Metro Mass Transit fights back against ‘brazen’ private takeover of Opera Square terminal
4 hours -
Trump calls for allies to help secure Strait of Hormuz as Iran vows to step up retaliation
4 hours -
US Embassy in Baghdad, Iraq attacked with missile that hits helipad
6 hours -
CSA reports rise in cyber incidents as over 23,000 enquiries recorded
7 hours -
Local dishes remain favourite at buffets and events
7 hours -
F1 cancels Bahrain, Saudi Arabia races due to Iran war
8 hours -
Three more Iran football team members change minds over asylum
8 hours -
WAEC Awards: PRESEC-Legon student grabs best business student prize
9 hours