Govt falls short of T-bill auction target by 1.66%

Government has fallen short of its auction target for treasury bills for the seventh consecutive week.

As per the Bank of Ghana’s auction results, the government missed its target by a slight 1.66 percent.

The government raised GH¢5.203 billion, falling short of the GH¢5.319 billion target.

All bids submitted for the short-term instruments were accepted. GH¢3.725 billion, accounting for 71.23%, was tendered for the 91-day bill.

The uptake for the 182-day T-bill amounted to GH¢1.251 billion, representing approximately 23.93% of the total bids.

For the 364-day bill, bids amounted to GH¢252.74 million.

Meanwhile, interest rates eased across the yield curve, reflecting an expected decline due to the decreasing inflation rate.

The yield on the 91-day bill dropped by 6.0 basis points to 24.78%.

Interest on the 182-day bill also decreased to 26.68%, down from the previous week’s 26.74%.

Similarly, the yield on the 364-day bill fell by 4.0 basis points to 27.81%.