BoG mobilizes GHS 1.57 billion
The Central Bank has raised some Ghs 1,575 million from the issuance of its own bills.
The BoG bills with a maturity period of 14 days was auctioned by the Central Bank on Wednesday, January 19, 2022.
Per the auction results released by the BoG, it is unclear the value of bids made by commercial banks for the Central Bank bills.
It is also unclear whether the BoG was able to meet its target with the auction of its bills as both amounts were not stated by the Central Bank.
The bills however, were auctioned at a discount rate of 14.4 percent.
Read: Use of Ghana Card for financial transactions to boost growth of banking sector – GAB
Central Bank bills mostly employed through Open Market Operations (OMO), serves as a monetary policy tool used by Central Banks to regulate money supply.
The main function of Central Bank bills is to manage the liquidity of the banking system through selling short-term securities on the primary market.
The interest rate on the Central Bank bills is the key interest rate that determines the monetary policy stance or rate. The bills usually have fixed maturities of 28, 63, 91 and 182 days.
Peruse document bew:
BOG Auctresults 638 WED 19 JAN 22 by Fuaad Dodoo on Scribd
