Treasury Rates For September 16th 2019

Treasury Rates For September 16^th 2019

Period	Interest Rates
91 – Day	14.6967%
182 – Day	15.1357%

After weeks of sluggish performance in short-term Government of Ghana Treasury bill rates, the yields on both the 91-day and 182-day bills rose marginally this week ahead of the announcement of consumer prices later in the week. The inflation rate for July rose from 9.1% to 9.4% on the back of an upward review of utility tariffs. It is expected that August inflation figures will not significantly diverge from the last inflation reading.

The yield on the 91-day bill gained 2 basis points to build on previous week’s marginal rise. It rose from 14.6794% posted last week to 14.6967%, its highest in four weeks.

The 182-day bill climbed up by 1 bps this week to recover part of previous week’s dip. It rose to 15.1357% from 15.1232% recorded last week.

 

Week on week changes for 16^th September, 2019

	9-Sep-19	16-Sep-19	CHANGE	PERCENTAGE CHANGE
91 – Day	14.6794%	14.6967%	0.0173	0.1179%
182 – Day	15.1232%	15.1357%	0.0125	0.0827%

Auction results from Bank of Ghana (BoG) tender 1659 further showed that demand for the government’s short-term Treasury instruments failed to meet expectations after weeks of high demand.

Total bids tendered for both the 91-day and 182-day bills came in at GHC 716.43 million, narrowly missing the government’s target amount of GHC 723.00 million. All bids tendered were accepted.

Next week, the government is expected to increase its target amount to raise a total of GHC 843.00 million from 91-day, 182-day and 364 bills.