For the seventh consecutive week, the government missed its auction target for treasury bills.
According to the auction results by the Bank of Ghana, the government missed its target by a marginal 1.66 percent.
The government got GH¢5.203 billion from a target of GH¢ 5.319 billion.
All the bids tendered for the short-term instruments were accepted. GH¢3.725 billion, representing 71.23% were tendered for the 91-day bill.
The uptake for the 182-day T-bill was however GH¢1.251 billion. It represented about 23.93% of the total bids.
For the 364-day bill, GH¢252.74 million were tendered.
Meanwhile, interest rates eased across the yield curve in line with an anticipated decline due to the falling rate of inflation.
The yield on the 91-day bill declined by 6.0 basis points to 24.78%.
The interest on the 182-day bill also dipped to 26.68%, from the previous week’s 26.74%.
Again, the yield on the 364-day bill also declined by 4.0 basis points to 27.81%.
| SECURITIES | BIDS TENDERED (GH¢) | BIDS ACCEPTED (GH¢) |
| 91 Day Bill | 3.725 billion | 3.725 billion |
| 182 Day Bill | 1.251 billion | 1.251 billion |
| 364 Day Bill | 252.74 million | 252.74 million |
| Total | 5,230 billion | 5230 billion |
| Target | 5.319 billion | |
Source: Joy Business