The government secured GH¢3.218.94 billion in its latest auction on January 5, 2023.

The bills were oversubscribed by GH¢381.94, surpassing the week’s target of GH¢2.837 billion.

For the greater part of 2023, interest rates kept increasing to over 33% for the 365-day bill.

According to the latest auction results from the Bank of Ghana, interest rates for the 91-day and 182-day bills are currently standing at 29.19% and 31.74% respectively. Currently, inflation stands at 38.1%.

Ghana’s interest rate is still the highest in Africa standing at about 32%.

According to the Bank of Ghana results, all bids tendered in this week’s auction were not accepted.

The 91-day bill saw a total subscription of GH¢2.14 billion, GH¢595.72 billion was accepted from the 182-day bill and GH¢479.43 million was accepted from the 364-day bills.

The government has set its next auction target at GH¢2.63 billion.

SSD/NOQ

Watch a recap of business stories below:



Ghana’s leading digital news platform, GhanaWeb, in conjunction with the Korle-Bu Teaching Hospital, is embarking on an aggressive campaign which is geared towards ensuring that parliament passes comprehensive legislation to guide organ harvesting, organ donation, and organ transplantation in the country.

Click here to follow the GhanaWeb Business WhatsApp channel