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BoG raises GHS 1.9 billion from domestic debt market

2 years ago
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BoG raises GHS 1.9 billion from domestic debt market

The Bank of Ghana (BoG), has raised some GHS 1.9 billion from the issuance of its bills.

The BoG bills with a maturity period of 56 days was auctioned by the Central Bank on Wednesday, January 17, 2024.

The bills, per the auction results from the BoG, were auctioned at a discounted rate of 28.6 percent.

The auction results did not indicate the value of bids made by banks as well as the target of the BoG.

Central Bank bills – in this case BoG bills – mostly employed through Open Market Operations (OMO), serve 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.

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In most cases, funds raised from the auction of the BoG bills are directly loaned to the government to support its short-term needs.

The interest rate on the Central Bank bills is the key interest rate that determines the monetary policy stance or rate.

Tags: BOGBoG raises GHS 1.9 billion from domestic debt marketdomestic debt market
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