The upward trend in treasury bill yields is expected to persist, even as inflation eases for the fifth consecutive month. Strong demand amid tighter market liquidity is hindering any decline in yields.
The Monetary Policy Committee (MPC) of the Bank of Ghana will meet this week to discuss potential adjustments to the benchmark rate. Most analysts anticipate that the policy rate will remain unchanged despite the recent drop in inflation.
The 91, 182, and 364-day yields have increased by 9.0, 2.0, and 1.0 basis points, respectively, now settling at 25.01%, 26.82%, and 28.08% week-on-week. However, the Treasury fell short of its auction target of GH¢5.88 billion, raising only GH¢4.39 billion, resulting in a shortfall of GH¢1.49 billion.
Additionally, the Treasury plans to raise GH¢7.44 billion through the issuance of 91-day, 182-day, and 364-day bills on Friday, September 27, 2024, to cover GH¢2.99 billion in maturing bills.
SOURCE: https://dew360.net
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