Interest rates on the treasury market were mixed, according to the latest Treasury bill auction by the Bank of Ghana.
This ended the four-week continuous rise on the yield curve.
The results showed that the 91-day T bill went for 19.94%, as against 19.96% the previous week.
That of the 182 T-bill that of the 182-day bill increased by 0.14% to 22.71%.
Though interest rates have remained relatively stable, some analysts are still worried that the rates and may affect the government quest to reduce the deficit financing in 2023 and the next couple of years.
Investment bank, IC Securities earlier said in the near-term, the government continued dependence on the money market, without an active primary bond market, will hold yields elevated around current levels of between 19.0% – 27.0%.
Meanwhile, government secured ¢2.06 billion from the sale of the short-term securities, about 30.4% oversubscription over the targeted amount of ¢1.585 billion
Again, majority of the bids came from the 91-day T-bills as investors are mindful of the risk of the high interest payment.
¢1.530 billion were tendered by the investors in which all the bids were accepted.
Also, ¢538.13 million of the 182-day bills were tendered, but ¢537.02 million were accepted.
| Securities | Bids Tendered (GH¢) | Bids Accepted (GH¢) |
| 91 Day Bill | 1.530 billion | 1.530 billion |
| 182 Day Bill | 538.13 million | 537.02 million |
| Total | 2.068 billion | 2.067 billion |
| Targeted | 1.565 billion |
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policies of Homebase Television Ltd.
- President Commissions 36.5 Million Dollars Hospital In The Tain District
- You Will Not Go Free For Killing An Hard Working MP – Akufo-Addo To MP’s Killer
- I Will Lead You To Victory – Ato Forson Assures NDC Supporters
Visit Our Social Media for More
About Author
