| Period | Interest Rates |
| 91 – Day | 14.7105% |
| 182 – Day | 15.1192% |
This week, short-term Government of Ghana (GoG) Treasury bill rates weakened after weeks of marginal gains. The yield on the 91-day bill recorded its first decline in four weeks whilst the yield on the 182-day recorded its first decline in 6 weeks. This week’s decline in short-term Treasury instruments come after the Monetary Policy Committee of the Bank of Ghana left the monetary policy rate unchanged at 16.0% at its last meeting.
The 91-day Treasury bill failed to build on previous week’s 1 basis point (bps) gain as it weakened by 2 bps to fall to its lowest in 4 weeks. It dipped from 14.7266% recorded last week to 14.7105% this week.
The yield on the 182-day bill fell the most by 5 bps as dipped to its lowest since mid-January. It weakened to 15.1192% this week from 15.1646% recorded last week.
Week on week changes for 8th April, 2019
| 1-Apr-19 | 8-Apr-19 | CHANGE | PERCENTAGE CHANGE | |
| 91 – Day | 14.7266% | 14.7105% | -0.0161 | -0.1093% |
| 182 – Day | 15.1646% | 15.1192% | -0.0454 | -0.2994% |
Auction results from Bank of Ghana (BoG) tender 1636 further showed that the government’s short-term Treasury instrument was for the second consecutive time oversubscribed by 80% this week. Total bids tendered for the 91-day and 182-day bills came in at GHC 1,039.93 million. The government, however, accepted GHC 970.95 million bids against its target amount of GHC 579.00 million.
Next week, the government is expected to marginally decrease its target amount to raise a total of GHC 565.00 million from 91-day, 182-day, and 364-day bills.
91-day and 182-day Bills Trend for 2019
