| Period | Interest Rates |
| 91 – Day | 14.6698% |
| 182 – Day | 15.1715% |
| 364 – Day | 17.8349% |
Short-term Government of Ghana (GoG) Treasury bill rates began the first week of the year, 2020, posting a mixed performance. The yields on the 91-day and 182-day bills maintained a relatively stable trajectory in 2019 where they both recorded a year-to-date appreciation of 0.5% and 0.8% respectively. This was mainly on the back of subdued consumer prices where the rate of inflation remained widely in single digits in 2019.
The yield on the 91-day bill fell by 2 basis points (bps) from 14.6963% recorded last week to 14.6698% this week, its lowest in 9 months.
The 182-day bill, however, climbed up by 2 bps to recover parts of previous week’s marginal loss. It rose from 15.1477% posted the previous week to 15.1715% this week, its highest since mid-July, 2019.
The yield on the 364-day bill fell sharply this week. It declined by 6 bps to 17.8349% this week from 17.8998%.
Week on week changes for 6th January, 2020
| 30-Dec-19 | 6-Jan-20 | CHANGE | PERCENTAGE CHANGE | |
| 91 – Day | 14.6963% | 14.6698% | -0.0265 | -0.1803% |
| 182 – Day | 15.1477% | 15.1715% | 0.0238 | 0.1571% |
Auction results from Bank of Ghana (BoG) tender 1675 further indicated that demand for the government’s short-term securities disappointed as consumption levels surged.
Total bids tendered for the 91-day, 182-day, and 364-day bills came in at GHC 499.91 million against the government’s target amount of GHC 593.00 million. All bids tendered were accepted.
Next week, the government is expected to reduce its target amount to raise a total of GHC 657.00 million from 91-day and 182-day bills.
