Treasury Rates for July 6th 2020

Security	Interest Rates
91 – Day Bill	13.9727 %
182 – Day Bill	14.0878 %

Short-term Government of Ghana (GoG) Treasury bill rates edged up this week from previous week’s dip as investors continue to anticipate that pressures on consumer goods will extend to the third quarter of the year. The consumer price index has over the past two months climbed up to a 2-year high on the back of upward adjustment in the prices of food stuffs.

The yield on the 91-day bill rose by 2 basis points to recover part of previous week’s 6 bps dip. It rose to 13.9727% this week from 13.9526% recorded last week.

The 182-day bill recorded its biggest weekly gain this week as it rose by 7 bps to recover from previous week’s 4 bps decline. It rose from 14.0150% posted last week to 14.0878% this week, its highest since mid-April, 2020.

Week-on-Week Changes for 6^th July, 2020

	29-Jun-20	6-Jul-20	CHANGE	PERCENTAGE CHANGE
91 – Day	13.9526%	13.9727%	0.0201	0.1441%
182 – Day	14.0150%	14.0878%	0.0728	0.5194%

Auction results from Bank of Ghana (BoG) tender 1701 further indicated that demand for the government’s short term Treasury assets picked up as rates begin to show signs of improvement.

A total of GHC 546.25 million bids were tendered for the 91-day and 182-day bills, against the government’s target amount of GHC 484.00 million. The government, however, accepted GHC 534.16 of total bids tendered.

Next week, the government is expected to significantly increase its target amount to raise a total amount of GHC 1,244 million from 91-day, 182-day, and 364-day bills.