Treasury Rates For January 13th, 2020

Period	Interest Rates
91 – Day	14.6935%
182 – Day	15.1727%

This week, short-term Government of Ghana (GoG) Treasury bill rates strengthened from previous week’s levels despite a dip in the recent consumer price readings. According to the Ghana Statistical Service, the government met its end-of-year inflation target as the rate of inflation ended 2019 at 7.9% from 8.2% in November, 2019.

The yield on the 91-day bill rose by 2 basis points (bps) to recover from previous week’s 2 bps dip. It rose from 14.6698% recorded last week to 14.6935% this week.

The 182-day bill rose marginally this week to build on previous week’s 2 bps gain. It rose from 15.1715% posted the previous week to 15.1727% this week, its highest in more than 5 months.

Week on week changes for 13^th January, 2020

	6-Jan-20	13-Jan-20	CHANGE	PERCENTAGE CHANGE
91 – Day	14.6698%	14.6935%	0.0237	0.1616%
182 – Day	15.1715%	15.1727%	0.0012	0.0079%

Auction results from Bank of Ghana (BoG) tender 1676 further indicated that demand rose to beat the government’s target amount after a sluggish demand the previous week.

Total bids tendered for the 91-day and 182-day bills came in at GHC 720.79 million against the government’s target amount of GHC 657.00 million. All bids tendered were accepted.

Next week, the government is expected to increase its target amount to raise a total of GHC 822.00 million from 91-day and 182-day bills.