Interest rates remain relatively stable as the government achieved a 37.8% oversubscription of treasury bill sales.
According to auction results by the Bank of Ghana, the rate on the 91-day T-bill inched up to 29.35% from 29.04% the preceding week.
However, that of the 182-day bill fell marginally to 31.94% from 31.96% previously.
The 364-day bill remained unchanged from the past week’s 32.49%.
With inflation nose diving to 26.4% in November 2023, there were expectations that interest rates will fall significantly.
Meanwhile, the government got ¢3.575 billion from the T-bill auction.
About ¢2.155 billion came from the 91-day T-bill, representing about 60.27% of the total auction. The government however accepted ¢2.154 billion cedis of the offer.
For the 182-day T-bill, ¢750.13 were tendered. The government however accepted ¢746.11 million of the bids.
The 364-day bill saw bids of ¢669.98 million. ¢668.98 million were however accepted.
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