The government missed its treasury bills target again as liquidity remained tight on the money market. According to the auction results from the Bank of Ghana, the government T-bills auction was undersubscribed by 38.55%.The government was seeking to raise GH¢ 5.980 billion but got GH¢ 3.67 billion.
All the bids tendered were accepted. The majority of the bids came from the 91-day T-bill. This was about GH¢2.9 billion, representing 79.23% of the total bids. A little over GH¢572 million came from the 182-day bill, while GH¢189.95 million were tendered for the 364-day bill. Meanwhile, interest rates fell on the money market.
This is in line with a lower inflation compared to last year, though September 2024 inflation increased marginally. The yield on the 91-day bills declined by 19 basis points to 25.45%. That of the 182-day bill also fell to 26.80% from the previous week’s 26.92%. The 364-day bill also dropped by 16 basis points to 28.51%.
| SECURITIES | BIDS TENDERED (GH¢) | BIDS ACCEPTED (GH¢) |
| 91 Day Bill | 2.911 billion | 2.911 billion |
| 182 Day Bill | 572.95 million | 572.95 million |
| 364 Day Bill | 189.95 million | 189.95 million |
| Total | 3.674 billion | |
| Target | 5.980 billion |
