The government failed to meet its treasury bills target on the money market as interest rates remained relatively stable. 

According to auction results by the Bank of Ghana, the T-bills sale was undersubscribed by 15.4%.

This was one of the few auctions in 2024 that the government could not achieve its target.

Whilst the targeted amount was GH¢4.86 billion, the government got GH¢4.11 billion.

The majority of the bids came from the 91-day T-bills. About GH¢3.05 billion, representing 71.145 was secured.

For the 182-day bill, GH¢795 million of the bids were tendered and the uptake was the same.

The 364-day bill recorded bids worth GH¢269.15 million. All the bids were accepted.

Meanwhile, interest rates remained relatively the same.

The yield on the 91-day bill was unchanged at 25.09%, whereas the six-month bill went for the same interest of 26.94%.

However, the yield on the 364-day eased slightly to 27.94%, from 27.95% previously.