Treasury Rates for March 2nd 2020

Period	Interest Rates
91 – Day	14.7324 %
182 – Day	15.1716 %
364 – Day	17.7108 %

Short-term Government of Ghana Treasury bill rates posted a decline this week in line with a 10 basis points (bps) drop in the latest reported inflation figure. The consumer price index is further expected to edge lower in February following a decrease in crude oil prices and a strengthening Cedi.

The yield on the 91-day bill erased part of previous week’s impressive 5 bps gain as it lost 2 bps this week. It dipped from 14.7538% posted last week to 14.7324% this week.

The 182-day bill posted its third consecutive decline this week as it fell marginally to build on previous week’s dip. It declined to 15.1716% this week from 15.1740% posted the previous week.

The 364-day bill, similarly, lost 10 bps this week to decline to 17.7108% this week from 17.8094% posted the previous week.

Week-on-Week Changes for 2^nd March, 2020

	24-Feb-20	2-Mar-20	CHANGE	PERCENTAGE CHANGE
91 – Day	14.7538%	14.7324%	-0.0214	-0.1450%
182 – Day	15.1740%	15.1716%	-0.0024	-0.0158%

Auction results from Bank of Ghana (BoG) tender 1683 further indicated that demand continued to remain low after several weeks of weakened demand pressures.

Total bids tendered for the 91-day, 182-day, and 364-day bills came in at GHC 609.4 million, failing to meet the government’s target amount of GHC 800.00 million. The government accepted all bids tendered.

Next week, the government is expected to significantly increase its target amount to raise a total of GHC 1,037.00 million from 91-day, 182-day, and 364-day bills.