{"id":1245582,"date":"2022-11-07T10:03:49","date_gmt":"2022-11-07T10:03:49","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/11\/07\/government-misses-t-bills-target-marginally-but-interest-rates-surge\/"},"modified":"2022-11-07T10:03:49","modified_gmt":"2022-11-07T10:03:49","slug":"government-misses-t-bills-target-marginally-but-interest-rates-surge","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/11\/07\/government-misses-t-bills-target-marginally-but-interest-rates-surge\/","title":{"rendered":"Government misses T-bills target marginally, but interest rates surge \u00a0"},"content":{"rendered":"<p><img decoding=\"async\" src=\"http:\/\/www.ghanamma.com\/wp-content\/uploads\/2022\/09\/treasury-bills.png\" \/><\/p>\n<div id=\"article-text\">\n<p>Government missed its Treasury bills auction target for the third week running, but liquidity improved comparatively to the past two weeks.<\/p>\n<p>The government secured \u00a21.23 billion from a target of \u00a21.316 billion, about 6% under-subscription.<\/p>\n<p>Though the government missed the target marginally, it was seeking to raise \u00a21.124 billion across the 91-day to 364-day bills to refinance the upcoming T-bill maturities of \u00a21.003 billion.<\/p>\n<p>According to the auction results from the Bank of Ghana, the bids tendered in were estimated at \u00a21.23 billion. All the bids were however accepted.<\/p>\n<p>Chunk of the bids came from the 91-day treasury bills, as \u00a21.073 billion were tendered in. The 182-day treasury bills also received bids worth \u00a2141.41 million.<\/p>\n<p>According to data from the Bank of Ghana, the interest rate on the 182-day T-bill hit 34.85%, from 34.2% the previous week.<\/p>\n<p>That of the 91-day bill also surged by 0.70% to 33.34%. The one-year bill sold at a rate of 34.85%, from 33.35% the prior week.<\/p>\n<p>Despite a surging interest rates, there is still a negative real return between interest rates and inflation.<\/p>\n<p>Inflation (September 2022) is presently hovering around 37.2%<\/p>\n<figure class=\"wp-block-table\">\n<table>\n<tbody>\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<\/tr>\n<tr>\n<td>\u00a091 Day Bill<\/td>\n<td>\u00a01.073 billion<\/td>\n<td>\u00a01.073 billion<\/td>\n<\/tr>\n<tr>\n<td>182 Day Bill<\/td>\n<td>\u00a0141.41 million<\/td>\n<td>\u00a0141.41 million<\/td>\n<\/tr>\n<tr>\n<td>\u00a0365 Day Bill\u00a0<\/td>\n<td>\u00a021.73 million<\/td>\n<td>\u00a021.73 million<\/td>\n<\/tr>\n<tr>\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<\/tr>\n<tr>\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<\/tr>\n<tr>\n<td><strong>Total<\/strong><\/td>\n<td>1.236 billion<\/td>\n<td>1.236 billion<\/td>\n<\/tr>\n<tr>\n<td><strong>Target<\/strong><\/td>\n<td>1.316 billion<\/td>\n<td>\ufeff1.316 billion<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/figure>\n<p><strong>DISCLAIMER: <\/strong>The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Government missed its Treasury bills auction target for the third week running, but liquidity improved comparatively to the past two weeks. The government secured \u00a21.23 billion from a target of \u00a21.316 billion, about 6% under-subscription. Though the government missed the target marginally, it was seeking to raise \u00a21.124 billion across the 91-day to 364-day bills [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1207608,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[1090,4233,6969,1402,1591,3163,1922,5082],"class_list":{"0":"post-1245582","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-government","9":"tag-interest","10":"tag-marginally","11":"tag-misses","12":"tag-rates","13":"tag-surge","14":"tag-target","15":"tag-tbills"},"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1245582","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=1245582"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1245582\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1245582"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1245582"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1245582"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}