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Treasury Rates for May 3rd 2021

Security Interest Rates
91 – Day Bill 12.7949%
182 – Day Bill 13.5348%

This week, the 91-day bill rose marginally in line with expectations of higher inflation figures after the new amendments in the existing tax regime took effect resulting in substantial increases in the prices of petroleum products as well as some goods and services.

After eight consecutive weeks of staying on a declining trajectory, the yield on the 91-day bill rose marginally by 1 basis point (bps). It rose from 12.7814% posted last week to 12.7949% this week.

After a posting a brief rise last week, the 182-day bill lost traction this week as it declined by 4 bps to erase previous week’s 4 bps gain. It dipped to 13.5348% this week from 13.5753% recorded last week.

Week-on-Week Changes for 3rd May, 2021

Term Previous Current Change Percentage Change
91 – Day 12.7814% 12.7949% 0.01 0.1056%
182 – Day 13.5753% 13.5348% -0.04 -0.2983%

Auction results from Bank of Ghana (BoG) tender 1744 showed that demand for the government’s short-term assets failed to meet expectations as Treasury yields struggle to pick up momentum.

A total of GHC 573.22 million worth of bids were tendered for the 91-day and 182-day bills against the government’s target amount of GHC 673.00 million. The government accepted all bids tendered.

Next week, the government will be seeking to raise a total of GHC 1,142.00 million from 91-day and 182-day bills.

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