Bank of Ghana Raises GHS 5.6 Billion in 56-Day Bill Auction at 26.78% Yield
The Bank of Ghana has successfully raised GHS 5.6 billion through the issuance of 56-day bills at an interest rate of 26.78%, as part of its latest open market operation on October 16, 2024.
Despite no specific target being announced or bid values disclosed, the auction underscores the Central Bank’s ongoing efforts to manage liquidity within the financial system, while maintaining control over inflationary pressures.
Short-term securities, such as the 56-day bills, form a key component of the BoG’s monetary toolkit, aimed at fine-tuning liquidity and stabilizing the broader financial environment.
These instruments are central to the Bank’s open market operations, influencing market interest rates and regulating money supply.
The 26.78% rate reflects the BoG’s current monetary stance amid broader economic challenges.
Usually, the proceeds from such auctions not only help regulate liquidity but also serve as a source of short-term funding for the government, supporting fiscal management.
