Treasury Rates For December 2nd 2019

Period	Interest Rates
91 – Day	14.6836 %
182 – Day	15.1425 %
364 – Day	17.8298 %

Short-term Government of Ghana (GoG) Treasury bill rates extended its relative stability this week as the yields on both the 91-day and 182-day bills were little changed. After a marginal rise in the yields on both the 91-day and 182-day bills posted last week in line with a marginal rise in the inflation rate, short-term Treasury bill rates posted a mixed performance this week.

The yield on the 91-day bill erased previous week’s 1 basis point (bps) again as it fell by 1.5 bps this week. It weakened to 14.6836% from 14.6984% posted last week.

The 182-day bill rose marginally from 15.1376% to 15.1425% to extend its weekly gain to three straight weeks.

This week, the yield on the 364-day bill dipped by 8 bps to build on previous week’s decline. It fell from 17.9091% to 17.8298% this week.

Week on week changes for 2^nd December, 2019

	25-Nov-19	2-Dec-19	CHANGE	PERCENTAGE CHANGE
91 – Day	14.6984%	14.6836%	-0.0148	-0.1007%
182 – Day	15.1376%	15.1425%	0.0049	0.0324%

Auction results from Bank of Ghana (BoG) tender 1670 further showed that demand for the government’s short-term securities failed to meet expectations for the second consecutive time as investors seek to increase their consumption levels in the yuletide.

Total bids tendered for the 91-day, 182-day, and 364-day bills came in at GHC 615.86 million against the government’s target amount of GHC 663.00 million. All bids tendered were accepted.

Next week, the government is expected to significantly increase its target amount to raise GHC 958.00 million from 91-day and 182-day bills.