| Period | Interest Rates |
| 91 – Day | 14.7567% |
| 182 – Day | 15.2436% |
| 364 – Day | 17.9228% |
This week, the yields on short-term Government of Ghana (GoG) Treasury bills, posted a mixed performance after weeks of posting a downward trajectory. The 91-day bill ended three weeks of a trailing performance this week while the 182-day bill further tumbled to extend its losing streak to four weeks. This week’s treasury yield performance comes after the consumer price index recorded its first dip after three weeks of consecutive tightening. Data released by the Ghana Statistical Services indicated that the inflation rate for May, 2019 fell from 9.5% to 9.4%.
The yield on the 91-day Treasury bill strengthened by 1 basis point (bps) this week. It rose from 14.7478% posted last week to 14.7567%.
The yield on the 182-day bill was little changed this week as it fell from 15.2449% to 15.2436%, its lowest since end-April, 2019.
After two weeks of posting a decline, the 364-day bill failed to post a comeback as it further fell by 8 bps to 17.9228% from 17.9996%.
Week-on-week changes for 17th June, 2019
| 10-Jun-19 | 17-Jun-19 | CHANGE | PERCENTAGE CHANGE | |
| 91 – Day | 14.7478% | 14.7567% | 0.0089 | 0.0603% |
| 182 – Day | 15.2449% | 15.2436% | -0.0013 | -0.0085% |
Auction results from Bank of Ghana (BoG) tender 1646 further showed that demand for the government’s short-term Treasury instruments remained strong as demand beat expectations for the third consecutive time in a row.
Total bids tendered for the 91-day, 182-day, and 364-day bills came in at GHC 1,047.26 million against the government’s target amount of GHC 887.00 million. The government, however, accepted only GHC 1,037.76 million of total bids tendered.
Next week, the government is expected to increase its target amount to raise a total of GHC 934.00 million from 91-day and 182-day bills.
2019 91-Day and 182-Day Bills Trend
