| Period | Interest Rates |
| 91 – Day | 14.7569% |
| 182 – Day | 15.3263% |
This week, short-term Government of Ghana (GoG) Treasury bill rates recorded an impressive jump after weeks of sluggish performance. The yield on the 91-day and 182-day bills posted their biggest weekly increase in 2019 as investors’ expectation of higher inflation soars. Cumulatively, the consumer price index has inched up by 30 basis points (bps) in the first quarter of 2019.
The yield on the 91-day Treasury bill strengthened by 9 bps to build on previous week’s 1 bps gain. It rose from 14.6688% recorded last week to 14.7569% this week, its highest in 2 years.
The yield on the 182-day bill gained momentum to recover from previous week’s lows. It gained 26 bps to rise from 15.0669% posted last week to 15.3263% this week, its highest since mid-May, 2017
Week on week changes for 6th May, 2019
| 29-Apr-19 | 6-May-19 | CHANGE | PERCENTAGE CHANGE | |
| 91 – Day | 14.6688% | 14.7569% | 0.0881 | 0.6006% |
| 182 – Day | 15.0669% | 15.3263% | 0.2594 | 1.7217% |
Auction results from Bank of Ghana (BoG) tender 1640 further showed that demand for the government’s short-term Treasury instruments 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 and 182-day bills came in at GHC 576.76 million against the government’s target amount of GHC 817 million. The government accepted all bids tendered.
Next week, the government is expected to decrease its target amount to raise a total of GHC 778.00 million from 91-day, 182-day, and 364-day bills.
91-Day and 182-Day Bills Trend (2019)
