T-bills target missed for four weeks consecutively, interest rates soar

The Government of Ghana’s weekly Treasury bills was undersubscribed for the fourth consecutive week.

Treasury bills have remained undersubscribed despite rising interest rates.

Results from the auction showed that the government secured GH¢1.23 billion out of the target of GH¢1.316 billion.

However, interest rates for the 91-day, 182-day, and 364-day Treasury bills stood at 33.34%, 34.85 and, 34.78%.

The 91-day treasury bills received GH¢1.073.48 billion bids whiles the 182-day treasury bills received bids worth GH¢141.41 million of which all bids were accepted.
The 364-day T-bills received GH¢21.73.

Despite the high-interest rate, inflation still stands above 37.2% as of September 2022, signifying a negative return on the investment.

Meanwhile, the government is targeting GH¢2,060 million in its next auction.



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