Interest rates rose marginally on the Treasury market as government secured more than 21.43% from its latest Treasury bills sale.
The increase in interest rates was expected due to the hike in the policy rate of the Bank of Ghana to 29.5%.
Interest rates inched up as the Central Bank increased its base lending rate to banks last Monday, March 27, 2023, to check the high inflation.
However, some market watchers argue that the cost of borrowing which is lower than the yield on Treasury bills could force investors to prioritize foreign currency investments.
Both the 91-day and 182-day T-bills went up marginally by 0.51 and 0.42 percentage points to 19.38% and 21.85% respectively.
Meanwhile, the government obtained ֯¢1.62 billion from the T-bills auction.
About ¢1.25 billion of the bids came from the 91-day bills, with about ¢1.24 billion accepted.
For the 182-day T-bill, the bids were estimated at about ¢367 million. A little above ¢355 million cedis were however accepted.
| Securities | Bids Tendered (GH¢) | Bids Accepted (GH¢) |
| 91-day | 1.257 billion | 1.244 billion |
| 182-day | 367.70 million | 355.13 million |
| Total | 1.624 billion | 1.599 |
| Targeted | ¢1.338 billion |
Latest Stories
-
Police officer interdicted after video of assault goes viral
15 mins -
KNUST’s Prof. Reginald Annan named first African recipient of World Cancer Research Fund
16 mins -
George Twum-Barimah-Adu pledges inclusive cabinet with Minority and Majority leaders
1 hour -
Labourer jailed 5 years for inflicting cutlass wounds on businessman
1 hour -
Parliament urged to fast-track passage of Road Traffic Amendment Bill
1 hour -
Mr Daniel Kofi Asante aka Electrician
1 hour -
Minerals Commission, Solidaridad unveils forum to tackle child labour in mining sector
1 hour -
Election 2024: Engagement with security services productive – NDC
1 hour -
Retain NPP for the good of Ghana – Rebecca Akufo-Addo
1 hour -
‘Let’s work together to improve sanitation, promote health outcome’ – Sector Minister urges
1 hour -
Ellembelle MP cuts sod for six-unit classroom block at Nkroful Agric SHS
1 hour -
‘I’ll beat the hell out of you if you misbehave on December 7’ – Achiase Commanding Officer
1 hour -
AFPNC leads the charge on World Prematurity Day 2024
1 hour -
Court remands unemployed man over theft of ECG property
2 hours -
Election security rests solely with the police – Central Regional Police Command
2 hours