{"id":1154166,"date":"2022-07-20T13:02:58","date_gmt":"2022-07-20T13:02:58","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/07\/20\/interest-rates-remain-relatively-stable-for-3-weeks-running-amid-surge-in-inflation\/"},"modified":"2022-07-20T13:02:58","modified_gmt":"2022-07-20T13:02:58","slug":"interest-rates-remain-relatively-stable-for-3-weeks-running-amid-surge-in-inflation","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/07\/20\/interest-rates-remain-relatively-stable-for-3-weeks-running-amid-surge-in-inflation\/","title":{"rendered":"Interest rates remain relatively stable for 3-weeks running amid surge in inflation"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"td-post-featured-image\">\n<figure><img loading=\"lazy\" decoding=\"async\" width=\"696\" height=\"464\" class=\"entry-thumb\" src=\"http:\/\/www.ghanamma.com\/wp-content\/uploads\/2022\/07\/Finance-Minister-Ken-Ofori-Atta-presents-Budget-2022_13-696x464.jpg\"   alt=\"\" title=\"Finance Minister, Ken Ofori-Atta presents Budget 2022_13\"\/><figcaption class=\"wp-caption-text\">Ken Ofori-Atta <\/figcaption><\/figure>\n<\/div>\n<p>Interest rates remained relatively same for the third week running, despite the surge in inflation.<\/p>\n<p>The rate of inflation went up to 29.8% in June, the highest since 2003, a situation many thought will have pushed interest rates up further, but that hasn\u2019t been the case.<\/p>\n<p>According to the results of the weekly Treasury bills, the interest rate on the 91-day Treasury bills stood at 25.95%, compared with 25.89% recorded a week ago.<\/p>\n<p>That of the 182-day T-bills was 27.46%, a little higher than the 26.54%, registered the previous week.<\/p>\n<p><!-- \/22191989129,1002554\/MGL\/mgl_ado_atunwa_300x250 --><\/p>\n<p>This signifies that liquidity has improved drastically on the money market, as a result of the International Monetary Fund\u2019s announcement that it will help support managers of the Ghanaian economy to strengthen its weak economic fundamentals.<\/p>\n<p><strong>READ ALSO:<\/strong><\/p>\n<p>According to the auctioning results by the Bank of Ghana, government recorded \u00a21.150 billion from the sale of the weekly Treasury bills, an oversubscription of 23.48%.<\/p>\n<p>It accepted \u00a21.088 billion from the bids tendered in.<\/p>\n<p>The target for the sale of the short term securities was \u00a2932 million.<\/p>\n<p>However, chunk of the amount came from the 91-day T-bills whereby \u00a2940.17 million was secured. \u00a2210.72 was mobilized from the 182-day T-bills.<\/p>\n<p>Meanwhile, all eyes will be on the Monetary Policy of the Bank of Ghana when it begins its quarterly meeting from tomorrow, June 20<sup>th<\/sup>, 2022.<\/p>\n<p>It\u2019s unclear whether the MPC will adjust the Policy Rate upwards or keep the rate same from May 2022 19%, despite the increase in inflation.<\/p>\n<figure class=\"wp-block-table\">\n<table>\n<tbody>\n<tr>\n<td\/><\/tr>\n<tr>\n<td><strong>Securities<\/strong><\/td>\n<td><strong>Bids Tendered (GH\u00a2)<\/strong><\/td>\n<td><strong>Bids Accepted (GH\u00a2)<\/strong><\/td>\n<td><strong>Interest rate<\/strong><\/td>\n<\/tr>\n<tr>\n<td>91 Day Bill<\/td>\n<td>\u00a0940.17 million<\/td>\n<td>\u00a0886.24 million<\/td>\n<td>25.95%<\/td>\n<\/tr>\n<tr>\n<td>182 Day Bill<\/td>\n<td>\u00a0210.72 million<\/td>\n<td>\u00a0202.25 million<\/td>\n<td>27.46%<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>Total<\/td>\n<td>1.150 billion<\/td>\n<td>\u00a01.088 billion<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>Target<\/td>\n<td>\u00a0928\u00a0\u00a0\u00a0\u00a0million<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/figure>\n<p>            <!--  [embed]https:\/\/www.youtube.com\/watch?v=videoseries[\/embed]<!--\" frameborder=\"0\" allow=\"accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe>--><\/p>\n<div class=\"youtube-embed\" data-video_id=\"02pdSd1l1ig\"><iframe loading=\"lazy\" title=\"FAY International Limited - Badwam Afisem on Adom TV (20-7-22)\" width=\"696\" height=\"392\" src=\"https:\/\/www.youtube.com\/embed\/02pdSd1l1ig?feature=oembed&#038;enablejsapi=1\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ken Ofori-Atta Interest rates remained relatively same for the third week running, despite the surge in inflation. The rate of inflation went up to 29.8% in June, the highest since 2003, a situation many thought will have pushed interest rates up further, but that hasn\u2019t been the case. According to the results of the weekly [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1154168,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[14434,227,4233,1591,2366,8377,1554,3163],"class_list":["post-1154166","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-3weeks","tag-inflation","tag-interest","tag-rates","tag-remain","tag-running","tag-stable","tag-surge"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1154166","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1154166"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1154166\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1154166"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1154166"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1154166"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}