The government has once again fallen short of its treasury bills target due to tight liquidity in the money market.
Auction results from the Bank of Ghana revealed a 38.55% shortfall in the government’s T-bills auction.
The government aimed to raise GH¢5.980 billion but secured only GH¢3.67 billion.
All submitted bids were accepted, with the majority, approximately GH¢2.9 billion or 79.23%, coming from the 91-day T-bill.
Around GH¢572 million came from the 182-day bill, while GH¢189.95 million was raised from the 364-day bill.
At the same time, interest rates on the money market experienced a decline.
This follows lower inflation rates compared to the previous year, although inflation in September 2024 rose slightly.
The 91-day T-bill yield dropped by 19 basis points to 25.45%, the 182-day bill slipped to 26.80% from 26.92% the week before, and the 364-day bill decreased by 16 basis points to 28.51%.
| SECURITIES | BIDS TENDERED (GH¢) | BIDS ACCEPTED (GH¢) |
| 91 Day Bill | 2.911 billion | 2.911 billion |
| 182 Day Bill | 572.95 million | 572.95 million |
| 364 Day Bill | 189.95 million | 189.95 million |
| Total | 3.674 billion | |
| Target | 5.980 billion | |