{"id":1250194,"date":"2022-11-14T11:56:39","date_gmt":"2022-11-14T11:56:39","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/11\/14\/interest-rates-surge-to-35-as-government-misses-t-bills-target-marginally\/"},"modified":"2022-11-14T11:56:39","modified_gmt":"2022-11-14T11:56:39","slug":"interest-rates-surge-to-35-as-government-misses-t-bills-target-marginally","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/11\/14\/interest-rates-surge-to-35-as-government-misses-t-bills-target-marginally\/","title":{"rendered":"Interest rates surge to 35% as government misses T-bills target marginally"},"content":{"rendered":"

<\/p>\n

\n

Interest rates continued to surge on the money market, going beyond 35% to reflect the increased inflation rate of 40.4% in October 2022.<\/p>\n

However, the government failed to meet the sale of the Treasury bills target marginally by 3.7%.<\/p>\n

This is the 5th<\/sup> week running that the government failed to achieve its target, but based on the numbers liquidity appears to be improving.<\/p>\n

Again, the government was seeking to refinance the upcoming T-bill maturities of \u00a21.711 billion, so getting \u00a21.983 billion is a good sale.<\/p>\n

According to the auction results, most of the investors bought the 91-day T-bills as the government mobilised \u00a21.82 billion.<\/p>\n

The yield for the 3 months bill however went for 34.3%.<\/p>\n

For the 182-day Treasury bills, the bids tendered were \u00a2145.69 million but government accepted \u00a2142.03 million. The interest rate was 35.4%.<\/p>\n

That of the 364-day went for 35.07%. Government however accepted \u00a27.86 million of the \u00a210.03 million bids tendered in.<\/p>\n

Despite a surging interest rates, there is still a negative real return between interest rates and inflation.<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n
Securities<\/strong><\/td>\nBids Tendered (GH\u00a2)<\/strong><\/td>\nBids Accepted (GH\u00a2)<\/strong><\/td>\n<\/tr>\n
\u00a091 Day Bill<\/td>\n\u00a01.827 billion<\/td>\n\u00a01.827 billion<\/td>\n<\/tr>\n
182 Day Bill<\/td>\n\u00a0142.69 million<\/td>\n\u00a0142.03 million<\/td>\n<\/tr>\n
\u00a0365 Day Bill\u00a0<\/td>\n\u00a010.03 million<\/td>\n\u00a07.86 million<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total<\/strong><\/td>\n1.983 billion<\/td>\n1.983 billion<\/td>\n<\/tr>\n
Target<\/strong><\/td>\n2.060 billion\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 .<\/td>\n2.060 billion<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/figure>\n

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":"

Interest rates continued to surge on the money market, going beyond 35% to reflect the increased inflation rate of 40.4% in October 2022. However, the government failed to meet the sale of the Treasury bills target marginally by 3.7%. This is the 5th week running that the government failed to achieve its target, but based […]<\/p>\n","protected":false},"author":1,"featured_media":1232522,"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":["post-1250194","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-government","tag-interest","tag-marginally","tag-misses","tag-rates","tag-surge","tag-target","tag-tbills"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1250194","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=1250194"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1250194\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1250194"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1250194"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1250194"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}