T-bills auction: Gov’t records marginal oversubscription; interest rates rise

The Ghanaian government has recorded a fourth consecutive oversubscription of its treasury bills, raising GH¢4.1 billion last week, exceeding the GH¢4 billion target by GH¢68 million.

The Central Bank's latest auction results show full acceptance of GH¢3.3 billion from the 91-day bills, along with GH¢549 million from the 182-day bills and GH¢200 million from the 364-day bills.

Rising yields have driven demand for these short-term instruments, with rates increasing to 26.5% for the 91-day bill, 27.5% for the 182-day bill, and 29% for the 364-day bill. The government aims to raise GH¢5.6 billion in the next auction.