T-bills auction: Government misses target again, but interest rates ease

For the seventh consecutive week, the federal government missed its public sale goal for treasury payments.

In response to the public sale outcomes by the Financial institution of Ghana, the federal government missed its goal by a marginal 1.66 p.c.

The federal government acquired GH¢5.203 billion from a goal of GH¢ 5.319 billion.

All of the bids tendered for the short-term devices had been accepted. GH¢3.725 billion, representing 71.23% had been tendered for the 91-day invoice.

The uptake for the 182-day T-bill was nonetheless GH¢1.251 billion. It represented about 23.93% of the full bids.

For the 364-day invoice, GH¢252.74 million had been tendered.

In the meantime, rates of interest eased throughout the yield curve in step with an anticipated decline as a result of falling charge of inflation.

The yield on the 91-day invoice declined by 6.0 foundation factors to 24.78%.

The curiosity on the 182-day invoice additionally dipped to 26.68%, from the earlier week’s 26.74%.

Once more, the yield on the 364-day invoice additionally declined by 4.0 foundation factors to 27.81%.