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Wednesday, April 24, 2024
BusinessInterest rates fall, gov't exceeds T-bills target by 41%


Interest rates fall, gov’t exceeds T-bills target by 41%


Interest rates continued their downward trend for the 12th consecutive week in 2024, aligning with analysts’ forecasts and the disinflation process.

Results from the treasury bills (T-bills) auction by the Bank of Ghana (BoG) indicated falling interest rates.

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The 91-day bill decreased by 50 basis points to 25.99%, while the yield on the 182-day bill dropped to 28.49% from the previous week’s 28.99%.

Similarly, the 364-day bill declined by 50 basis points to 29.09%.

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The T-bills auction was oversubscribed by 41.15%, reaching GH¢4.77 billion, but the government accepted GH¢4.75 billion. The 91-day bill was the most popular, with about GH¢2.50 billion tendered and an uptake of about GH¢2.48 billion.

The 182-day bill received bids worth GH¢1.34 billion, all of which were accepted.

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