Latest figures from the Bank of Ghana show that the government missed its Treasury bill issuance target by GHS169 million.
According to the Central Bank’s published results, the government aimed to raise GHS 5.38 billion but received bids totaling GHS 5.21 billion.
Despite the shortfall, all bids were fully accepted across all tenors, signaling strong investor demand and the Treasury’s willingness to absorb the full auction amount.
For the 91-day bill, GHS 3.85 billion was fully accepted. Similarly, GHS747 million in bids for the 182-day bill and GHS611 million for the 364-day bill were entirely allocated.
For market watchers, government’s decision to fully accept all bids tendered could signal strong appetite for money demand from the treasury or government.
Interest rates continue to decline, averaging between 15% and 16%, reflecting the BoG’s monetary policy stance aimed at stabilizing inflation and moderating the cost of borrowing.
The 91-day yield dropped by 7 basis points to 15.16%, down from 15.23% the previous week.
The 182-day rate also fell by 7 basis points to 15.70%, while the 364-day yield declined by 15 basis points to 16.80%.
Looking ahead, the government plans to raise GHS 6.68 billion in the next auction.
