T-bills auction: Government fails to meet target only a week of oversubscription; interest rates rise

The government's recent treasury bill auction recorded a 25.7% undersubscription, missing its GH¢5.881 billion target by GH¢1.486 billion.

The auction raised GH¢4.394 billion, with the 91-day bill receiving the most bids at GH¢3.788 billion (85.97% of total bids).

The 182-day bill garnered GH¢441.43 million, while the 364-day bill attracted GH¢175.04 million.

Interest rates rose, with the 91-day bill yielding 25.01%, the 182-day bill at 26.81%, and the 364-day bill increasing to 28.07%.

Despite expectations of inflation decline, interest rates remain high in the money market.