Bank of Ghana raises GHS 2.35bn from domestic debt market
The Central Bank on Monday, October 16, 2023, raised GHS 2.35bn through the issuance of its 56-day BoG bill.
The auction saw the central bank selling the short-term security on the primary market to regulate the money supply and manage liquidity in the banking system.
The interest rate at which the BoG bills were auctioned stood at 30.5%.
The BoG bills are typically used in Open Market Operations (OMO), which are monetary policy tools used by central banks to manage money supply.
Through OMO, the central bank can influence the cost and availability of credit in the economy by adjusting the supply of money in circulation.
Funds raised from the auction of the BoG bills are often loaned directly to the government to support its short-term needs.
