The government has once again missed its treasury bills target due to tight liquidity in the money market.
According to the Bank of Ghana’s auction results, the government aimed to raise GH¢5.98 billion but managed to secure only GH¢3.67 billion, marking a shortfall of 38.55%. Despite the undersubscription, all the bids submitted were accepted.
The 91-day T-bill dominated the auction, attracting bids worth GH¢2.9 billion, which accounted for 79.23% of the total. The 182-day T-bill brought in over GH¢572 million, while the 364-day bill attracted GH¢189.95 million.
Interest rates across the board also declined, reflecting the impact of lower inflation compared to last year, despite a slight rise in inflation in September 2024. The yield on the 91-day T-bill dropped by 19 basis points to 25.45%, while the 182-day bill decreased to 26.80%, down from 26.92% the previous week. The 364-day bill also saw a decline, falling by 16 basis points to 28.51%.
The 364-day bill also dropped 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 | |
SOURCE: JoyBusiness
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