The government secured GH¢4.723.84 billion in its latest auction on December 15, 2023.
This was indicative of an oversubscription of GH¢739.84 million.
The target for this week’s auction was GH¢3984 billion.
Interest rates on treasury bills have however begun to reduce marginally after increasing to almost 34%.
But the latest figures from the Ghana Statistical Service have shown that inflation for November slowed to 26%, lower than the 29.0% interest rate on the 91-day bill.
If the inflation trend continues downward, investors can heave a sigh of relief and start enjoying the returns on their investments.
It will be in government, however, if interest rates reduce since they will now have to pay less for the monies, they borrow via treasury bills.
According to the latest auction results from the Bank of Ghana, interest rates for the 91-day and 182-day bills have increased to 29.04% and 32.49% respectively.
The 364-day bill sold at 32.49%.
The results showed that all bids tendered in this week’s auction were not accepted.
The 91-day bill saw a total subscription of GH¢3.15 billion, GH¢782.05 billion was accepted from the 182-day bill and GH¢791.75 million was accepted from the 364-day bills.
The government has set its next auction target at GH¢2.594 billion.
SSD
Source: www.ghanaweb.com
