T-bills: Government misses target again; interest rates up slightly

For the 4^th week running, the government failed to meet its treasury bills target.

According to the latest auction by the Bank of Ghana, the government got GH¢3.803 billion, a 12.81% decline from the targeted amount of GH¢4.363 billion.

The majority of the bids came from the 91-day bill.

The bids tendered constituted 54.7% of the total bids. The uptake for the 3-month bill was GH¢ 2.389 billion.

For the 182-day bill, GH¢ 1.170 billion were the bids tendered. All the bids were accepted.

About GH¢243.04 million were the bids tendered for the 364-day bill. Once again, all the amount was accepted.

Meanwhile, interest rates went up slightly.

The yield on the 91-day bill increased to 24.82% from the previous week’s 24.78%.

That of the 182-day bill also inched up to 26.76% from the preceding week’s 26.74%.

For the 364-day bill, the rate was 27.85% from the 27.7% in the past week.

SECURITIES	BIDS TENDERED (GH¢)	BIDS ACCEPTED (GH¢)
91 Day Bill	2.389 billion	2.389 billion
182 Day Bill	1.170 billion	1.170 billion
364 Day Bill	243.04 million	243.04 million

Total	3.803 billion	3.803 billion
Target	4.363 billion

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