• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Bank of Ghana raises GHS 606m through 56-day BoG Bills

2 years ago
in Business, Economy, Features, highlights, Home, home-news, latest News, Markets
1 min read
0 0
0
109
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Bank of Ghana raises GHS 606m through 56-day BoG Bills

The Bank of Ghana recently raised GHS 606 million through the issuance of its own bills, known as Bank of Ghana (BoG) bills, with a maturity period of 56 days. The auction, which took place on February 27, 2023, saw the central bank selling short-term securities on the primary market to regulate money supply and manage liquidity in the banking system.

The interest rate at which the BoG bills were auctioned stood at 28 percent. While the value of bids made by commercial banks was not disclosed, the auction outcome highlights the central bank’s ability to attract funding from the domestic financial market in support of its monetary policy objectives.

The BoG bills are typically used in Open Market Operations (OMO), which are a monetary policy tool 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.

Moreover, the main function of central bank bills, like the BoG bills, is to manage the liquidity of the banking system by selling short-term securities on the primary market. This helps the central bank regulate the amount of money in circulation and ensure financial stability.

It is worth noting that the funds raised from the auction of the BoG bills are often loaned directly to the government to support its short-term needs. This suggests that the Ghanaian government may have borrowed the funds from the central bank to finance its budget or other obligations.

Overall, the issuance and auction of BoG bills is an essential monetary policy tool for the Bank of Ghana. The auction outcome reflects the central bank’s ability to attract funding from the domestic financial market and support its monetary policy objectives. As the central bank continues to navigate a challenging economic environment, the effectiveness of its monetary policy tools will remain critical to achieving its objectives of maintaining price stability and promoting economic growth.

RelatedPosts

Standard Chartered Empowers Future Leaders Through Financial Literacy and Mentorship

Nigeria Exiting Years of Economic Doldrum But Hard Road Ahead Still

ChatGPT Captures 48.36% of All AI Tool Traffic

Tags: 56-day BoG BillsBank of GhanaBank of Ghana raises GHS 606m through 56-day BoG Bills
No Result
View All Result

Highlights

Aid to Regional Partnerships: Japan’s New Strategic Approach to Economic Engagement with Africa

President Mahama in Singapore to Court Investment and Deepen Bilateral Ties

GRA Says Cedi Rebound Cuts Government Revenues by 30%

Here’s Why Uber’s CEO Believes China is Winning the EV Race

Appiah Adomako Writes: Ghana Needs a Surgical Approach to Minimum Investment Capital Requirement

Serie A: Jonathan David Shines on Serie A Debut as Juventus Overcomes Parma

Trending

Business

Standard Chartered Empowers Future Leaders Through Financial Literacy and Mentorship

August 25, 2025

Standard Chartered Empowers Future Leaders Through Financial Literacy and Mentorship In today’s rapidly evolving economy, financial literacy...

Nigeria Exiting Years of Economic Doldrum But Hard Road Ahead Still

August 25, 2025

ChatGPT Captures 48.36% of All AI Tool Traffic

August 25, 2025

Aid to Regional Partnerships: Japan’s New Strategic Approach to Economic Engagement with Africa

August 25, 2025

President Mahama in Singapore to Court Investment and Deepen Bilateral Ties

August 25, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.