T-bills auction: Interest rates plummet to 25.99%, government exceeds target by 41%

Interest rates tumbled for the 12^th consecutive week in 2024 in line with most analysts forecasts.

According to results of treasury bills (T-bills) auction by the Bank of Ghana, interest rates continue to fall in line with the disinflation process.

The 91-day bill fell by 50 basis points to 25.99%.

The yield on the 182-day bill also took a nose dive to 28.49% from the previous week’s 28.99%.

Similarly, the 364-day bill went down by 50 basis points to 29.09%.

Meanwhile, the T-bills auction was oversubscribed by 41.15% to the tune of GH¢4.77 billion.

The government however accepted GH¢4.75 billion.

The 91-day bill was the most patronised with about GH¢2.50 billion tendered. The uptake was about GH¢2.48 billion.

The 182-day bill received bids worth GH¢1.34 billion. All were accepted.

For the 364-day bill, GH¢927.06 million were tendered. The uptake was also GH¢927.06 million.