The upward trend in treasury bill yields is expected to continue despite inflation easing for the fifth consecutive months.
The strong demand amid tighter market liquidity is also making it difficult for yields to come down.
The Monetary Policy Committee (MPC) of the Bank of Ghana will meet this week to consider benchmark rate adjustments.
Most analysts expect the policy rate to remain steady notwithstanding the recent decline in inflation.
“Despite the Federal Reserve's recent rate cut and disinflation trend, we expect the MPC to uphold a tight monetary stance in line with the IMF (International Monetary Fund) programme parameters, to control inflation expectations amid election-induced spending while adopting a forward guidance approach to tame cedi depreciation pressures”, Databank Research said.
The 91, 182, and 364-day yields increasing by 9.0 basis points, 2.0 basis points and 1.0 basis points, settling at 25.01%, 26.82%, and 28.08% week-on-week, respectively.
However, the Treasury fell short of its auction target of GH¢5.88 billion, raising only GH¢4.39 billion, resulting in a shortfall of GH¢1.49 billion.
Meanwhile, the Treasury plans to raise GH¢7.44 billion through the issuance of 91- day, 182-day, and 364-day bills this Friday September 27, 2024.
This will cover GH¢2.99 billion in maturing bills.
Latest Stories
-
Edutech Africa Summit 2024: A catalyst for transforming Africa’s digital future
4 mins -
Menace of misinformation: Understanding the threats and consequences on election outcomes
9 mins -
I’ll never borrow if I become President – Hassan Ayariga
16 mins -
Arrested protesters appear in court amid heavy security
35 mins -
NSA ‘failed’ by renting out Baba Yara Stadium ahead of Ghana-Angola clash – Sports Ministry
49 mins -
GIZ launches PAIREeD programme to make local public finances more efficient
1 hour -
Freight Forwarders demonstrate at port over high shipping charges
1 hour -
Democracy Hub raises alarm over treatment of detained protesters
1 hour -
Lawyers struggle to locate 46 protesters arrested during Democracy Hub demonstration
1 hour -
Ghana records 3rd consecutive trade surplus but quarter 2 numbers decline marginally – GSS
1 hour -
Three communities in Ejisu cry over abandoned road project
1 hour -
Nigerian music video budget can produce a Ghanaian film – Camidoh
1 hour -
No response from CAF on inspection request for Accra and Cape Coast Stadiums – Sports Minister
1 hour -
We’ll create platforms in each region to mentor up and coming musicians – Ayariga
1 hour -
I had no role in Otto Addo’s appointment as Ghana coach – Sports Minister
2 hours