T-bills auction: Interest rates tumbled to 24.85%; government’s target fell short by 1.35%

Interest rates tumbled once again across the yield curve, in line with falling inflation.

The 91-day yield eased to 24.85% from the prior week’s 25.03%.

That of the 182-day also went down by 9.0 basis points to 26.82%.

Similarly, the 182-day bill also declined to 27.81% from the earlier 27.92%.

Meanwhile, the government recorded 1.35% oversubscription of the T-bills sale, far lower than the 19.4% recorded the preceding week.

It got a total of GH¢4.833 billion, as against a target of GH¢4.900 billion.

A chunk of the bids came from the 91-day bill.

About GH¢3.76 billion was mobilised, representing 77.9% of the total bids. The uptake was the same as the bids tendered.

Similarly, GH¢924 million came from the 182-day bill. All the bids were accepted.

For the 364-day bill, GH¢142.07 million of the bids were tendered and all were accepted.