Treasury Rates for June 8th 2020

Security	Interest Rates
91 – Day Bill	13.9517 %
182 – Day Bill	14.0564 %

This week, short-term Government of Ghana (GoG) Treasury bill rates fell from previous week’s levels despite increasing expectations of higher inflation rates following an upward review of the prices of petroleum products.

The 91-day bill, this week, failed to post a comeback after dipping by 4 basis points (bps) last week. It weakened by 6 bps from 14.0197% posted last week to 13.9517% this week, its lowest in three weeks.

The yield on the 182-day bill lost 1 bps to erase part of 2 bps gain registered last week. It declined to 14.0565% this week from 14.0740% posted last week.

Week-on-Week Changes for 8^th June, 2020

	1-Jun-20	8-Jun-20	CHANGE	PERCENTAGE CHANGE
91 – Day	14.0197%	13.9517%	-0.0680	-0.4850%
182 – Day	14.0740%	14.0565%	-0.0175	-0.1243%

Auction results from Bank of Ghana (BoG) tender 1697 further showed that after disappointing results from last week’s auction, demand for the government’s short-term bills rose significantly this week to beat the government’s target amount.

A total of GHC 925.23 million bids were tendered for the 91-day and 182-day bills, against the government’s target amount of GHC 875.00 million. The government, however, accepted GHC 921.23 million of bids tendered.

Next week, the government is expected to increase its target amount to raise a total amount of GHC 1,182.00 million from 91-day, 182-day, and 364-day bills.