Treasury Rates for September 28th 2020

Security	Interest Rates
91 – Day Bill	14.0357 %
182 – Day Bill	14.1478 %

Short-term Government of Ghana Treasury bill rates rose from previous week’s levels despite expectations of slower inflationary pressures. The yields on both the 91-day and the 182-day bills rose simultaneously for this first time in six weeks after weeks of posting mixed performances.

The 91-day bill hardened by 3 basis points (bps) to recover from previous week’s 2 bps decline. It rose to 14.0357% this week from 14.0060% posted last week.

The 182-day bill strengthened by 3 bps this week to build on previous week’s 3 bps gain. It rose from 14.1216% posted last week to 14.1478% this week, its highest in 6 months.

Week-on-Week Changes for 28^th September, 2020

	21-Sep-20	28-Sep-20	CHANGE	PERCENTAGE CHANGE
91 – Day	14.0060%	14.0357%	0.0297	0.2121%
182 – Day	14.1216%	14.1478%	0.0262	0.1855%

Auction results from Bank of Ghana (BoG) tender 1713 further indicated that demand for the government’s short-term assets picked up this week after weeks of sluggish demand.

A total of GHC 826.02 million bids were tendered for the 91-day and 182-day bills against the government’s target amount of GHC 735.00 million. The government accepted all bids tendered.

Next week, the government will be expected to slightly reduce its intended target amount to raise a total of GHC 712.00 million from 91-day, 182-day, and 364-day bills.