Interest rates fell for the fifth consecutive week on the yield curve, according to results of treasury bills auction by the Bank of Ghana.
This follows an expected ease in January 2024 inflation.
The falling interest rates is also expected to help reduce the cost of the government’s domestic debt marginally.
The rate on the 91-day bill went down by 30 basis points to 28.29%.
That of the 182-day bill also took a nose dive to 30.79% from the previous week’s 31.09%.
The one-year bill also dropped to 31.39% from the preceding week’s 31.79%.
Meanwhile, demand for T-bills remained high as the government secured GH¢4.52 billion from the sale of the short-term securities. This represented about 58.26% oversubscription.
The majority of the bids came from the 91-day bill in which the uptake was GH¢1.914 billion. This was approximately 42.27%.
The 364-day bill followed suit with a subscription of GH¢1.402 billion. All the bids were accepted.
The 182-day bill also saw bids worth GH¢1.211 billion tendered. All the bids were accepted.
SECURITIES | BIDS TENDERED (GH¢) | BIDS ACCEPTED (GH¢) |
91 Day Bill | 1.914 billion | 1.914 billion |
182 Day Bill | 1.211 billion | 1.211 billion |
364 Day Bill | 1.402 billion | 1.402 billion |
Total | 4.527 billion | 4.527 billion |
Target | 2.861 | |
Latest Stories
-
I was suspended in SHS after making a dance video with my uniform – Lisa Quama
33 mins -
GTA gears up for National Tourism Awards 2024
36 mins -
Prof. Gyampo criticises vacating of MP seats due to cross-carpeting
3 hours -
A critical examination of Speaker Alban Bagbin’s ruling on potential breaches of Article 97(1)(G) and (H)
4 hours -
Trump calls 6 January ‘day of love’ when asked about Capitol riot
5 hours -
UTAG calls for immediate prosecution of persons arrested for engaging in galamsey
5 hours -
Prof Ransford Gyampo: And Speaker Bagbin declared 4 seats vacant…
5 hours -
Secret Service has ‘deep flaws’ and must overhaul leadership, report says
5 hours -
Kenya’s deputy president sacked while in hospital
5 hours -
One Direction ‘devastated’ at Liam Payne’s death
6 hours -
Ghana’s debt to ease to 70% of GDP in 2024; another debt default unlikely – Fitch
6 hours -
Meta fires staff for buying toothpaste, not lunch
6 hours -
U-20 AFCON 2025Q: Afriyie’s brace earns Ghana draw against Benin
6 hours -
US ‘click to cancel’ rule to ban subscription traps
6 hours -
Speaker is completely out of order; he is wrong on this ruling – K.T Hammond
6 hours