Interest rates tumbled again, though only slightly, in line with the disinflation process.
This comes ahead of the Monetary Policy Committee (MPC) meeting this week.
According to auction results from the Bank of Ghana, the yield on the 91-day bill decreased by 10.0 basis points to 25.09 per cent.
Similarly, the yield on the 182-day bill declined slightly to 26.94 per cent from the previous week’s 26.99 per cent.
The yield on the 364-day bill also dropped by 4.0 basis points to 27.95 per cent.
Meanwhile, demand for T-bills eased as the government received GH¢3.212 billion from the sale of short-term instruments.
This represented a 0.77 per cent oversubscription.
GH¢2.493 billion, representing 77.62 per cent, came from the 91-day bill. Indeed, all the bids were accepted.
For the 182-day bill, bids totalling GH¢636.63 million were tendered, and the same amount was taken up.
For the one-year bill, GH¢82.19 million worth of bids were tendered, and all of them were accepted.
Databank Research had previously indicated that interest rates would persist in their downward trajectory, aligning with the decline in inflation rates.
“Our view hinges on a broadly favourable outlook with a decent risk premium spread, comparing the April 2024 annual inflation rate and prevailing T-bills yields”, it said.
