The government achieved a slight oversubscription in its latest treasury bill auction, but this came at the cost of rising interest rates. According to auction results from the Bank of Ghana, the government raised GH¢4.195 billion from the sale of short-term securities, surpassing its target of GH¢4.035 billion. All bids submitted were accepted.
The 91-day treasury bill accounted for the majority of the subscriptions, contributing about 83%, or GH¢3.52 billion. The 182-day bill attracted GH¢545.83 million in bids, while the 364-day bill saw GH¢128.52 million offered.
However, interest rates continued to climb for the second consecutive week. The yield on the 91-day bill increased by 33 basis points to 25.94%, while the rate on the 182-day bill rose to 27.03%, up from 26.90% the previous week. The 364-day bill also saw a 15-basis-point jump, reaching 28.73%.
