The government will borrow ¢1.34 billion on the Treasury market this Friday March 31, 2023.
This will be done through the issuance of the 91-day and 182-day Treasury bills.
However, the expected amount is far less than the ¢3.206 billion target last week
The uptake will be used to refinance maturing bills worth ¢1.28bn.
The Monetary Policy Committee of the Bank of Ghana increased the policy rate by 150 basis points to 29.50% to reinforce the pace of disinflation.
Additionally, the MPC reset domestic currency deposits' cash reserve ratio to 14.00%, from 12.00%.
Analysts believe investors will price the policy rate rise into their bids at the next T-bill auction, increasing the yields.
Last week, the government almost took up all the bids in its T-bill auction, raising ¢2.44bn.
Though the proceeds surpassed the refinancing obligation by 29.96%, it covered 76.15% of the auction target.
Yields on the 91-day and 182-day pushed up to 18.88% (+35 basis points) and 21.44% (17 basis points). However, the 364-day yield declined to 25.66%.
Latest Stories
-
We have a bad technical team; Otto Addo and his team should go – Ernest Thompson
44 mins -
Hindsight: Why Accra Lions’ present problems do not define them
1 hour -
10-year-old Lisa Laryea arrives at Wits Donald Gordon Hospital in South Africa for bone marrow transplant
2 hours -
23 ambassadors inducted to take on 2025 GSTEP Challenge in three regions
2 hours -
Ghana Shea Workers Union inaugurated
2 hours -
I trust Bawumia; he has never lied to me – Akufo-Addo
2 hours -
Bawumia is hardworking; offers the youth platform to share ideas – Kow Essuman
2 hours -
IGP, Police commanders worship with churches in Ghana as part of security arrangements for 2024 elections
2 hours -
Mahama is a failed president; give Bawumia a chance – Akufo-Addo to Ghanaians
3 hours -
‘No child left behind in Free SHS’ – Akufo-Addo declares
3 hours -
MMDAs tasked to pay more attention to TB cases
3 hours -
2024/25 GPL: Defending champions Samartex suffer second consecutive loss as Basake Holy Stars wins 1-0
3 hours -
Government stands firm in Galamsey fight, says Akufo-Addo
3 hours -
National Peace Council assures public of violent free elections
3 hours -
Agenda 111 to be discontinued if NDC comes to power – Akufo-Addo
3 hours