T-bills auction: Interest rates remain relatively same; Government secures ¢3.575bn

Interest rates remain relatively stable as the government achieved a 37.8% oversubscription of treasury bills sale.

According to auction results by the Bank of Ghana, the rate on the 91-day T-bill inched up to 29.35% from 29.04% the preceding week.

However, that of the 182-day bill fell marginally to 31.94% from 31.96% previously.

The 364-day bill remained unchanged from the past week’s 32.49%.

With inflation easing to 26.4% in November 2023, there were expectations that interest rates will fall significantly.

Meanwhile, the government got ¢3.575 billion from the T-bill auction.

About ¢2.155 billion came from the 91-day T-bill, representing about 60.27% of the total auction. The government, however, accepted ¢2.154 billion of the offer.

For the 182-day T-bill, ¢750.13 million were tendered. The government however accepted ¢746.11 million of the bids.

The 364-day bill saw bids of ¢669.98 million. ¢668.98 million were however accepted.