Interest rates have shown relative stability since the start of the year, despite a notable increase in inflation to 25.8% in March 2024.
The yield on the 91-day bill remained unchanged at 25.73%, while that of the 182-day bill decreased by 8 basis points to 28.14%.
However, there was a significant rise in the interest rate on the 364-day bill, climbing to 28.74% from the previous 28.33%.
Looking ahead, it remains uncertain whether interest rates will continue to decline as they have.
After a period of two weeks during which treasury bills were undersubscribed, there was a turnaround as they were oversubscribed by 22.25%.
The government successfully raised GH¢4.228 billion from the sale of these short-term instruments, exceeding the target of GH¢2.459 billion.
The majority of bids, around 85.2%, were for the 91-day bill, totaling GH¢3.606 billion, all of which were accepted.
Similarly, the 182-day bill received bids amounting to GH¢505.19 million, with the entire amount being taken up.
Additionally, the one-year bill saw bids totaling GH¢117.64 billion, of which GH¢117.64 million were accepted.