| Period | Interest Rates |
| 91 – Day | 14.8706% |
| 182 – Day | 15.3536% |
| 364 – Day | 18.0255% |
Short-term Government of Ghana (GoG) Treasury bill rates continued its recovery this week as it built on previous week’s impressive performance. The yields on the 91-day, 182-day, and 364-day bills rose ahead of the announcement of inflation rate for April where consumer prices is expected to post a marginal increase on the back of an upward adjustment in the prices of petroleum products.
The yield on the 91-day Treasury bill recorded its third consecutive gain this week as it strengthened by 11 basis points (bps) to build on previous week’s 9 bps gain. It rose from 14.7569% recorded last week to 14.8706% this week, its highest in more than 2 years.
The yield on the 182-day bill climbed by 3 bps to build on previous week’s recovery. It rose from 15.3263% posted last week to 15.3536% this week, its highest since mid-May, 2017.
In line with the upward pressure on the short-term end of the Treasury yield curve, the 364-day bill also rose by 2 bps from 18.0105% to 18.0255% this week.
Week-on-week changes for 13th May, 2019
| 6-May-19 | 13-May-19 | CHANGE | PERCENTAGE CHANGE | |
| 91 – Day | 14.7569% | 14.8706% | 0.1137 | 0.7705% |
| 182 – Day | 15.3263% | 15.3536% | 0.0273 | 0.1781% |
Auction results from Bank of Ghana (BoG) tender 1641 further showed that demand for the government’s short-term Treasury instruments remained weak as bids tendered failed to meet the government’s target after weeks of improved investor demand of short-term Treasury papers.
Total bids tendered for the 91-day, 182-day, and 364 bills came in at GHC 728.70 million against the government’s target amount of GHC 778.00 million. The government accepted GHC 715.23 million of the bids tendered.
Next week, the government is expected to increase its target amount to raise a total of GHC 889.00 million from 91-day, 182-day, and 364 day bills.
91-Day and 182-Day Bills Trend (2019)
