BoG Raises GHS 7.74bn From 56-Day Bills at 21.4% Yield
The Bank of Ghana (BoG) has mobilised GHS 7.74 billion from the issuance of 56-day central bank bills, in a move aimed at tightening liquidity conditions and reinforcing its monetary policy stance.
The securities, auctioned on September 29, 2025, cleared at an interest rate of 21.4%, according to results published by the Central Bank. The disclosure, however, did not include the auction target or the volume of bids received.
BoG bills, deployed as part of the central bank’s Open Market Operations (OMO), serve as a critical tool for absorbing excess liquidity in the financial system, anchoring inflation expectations, and signalling the trajectory of the policy rate.
In Ghana, proceeds from such issuances are also used to provide short-term financing support to the government.
The 21.4% yield closely mirrors the current policy rate of 21.5%, underscoring the Bank’s firm monetary policy posture amid declining headline inflation.
Analysts note that the lack of data on bid coverage makes it difficult to gauge the strength of investor appetite and broader market sentiment toward short-term sovereign instruments.
