"BoG Tightens Liquidity With GHS 2.92 Billion Mobilisation via 56-Day Bills\u00a0"

" BoG Tightens Liquidity With GHS 2.92 Billion Mobilisation via 56-Day Bills\u00a0 \r\n The Bank of Ghana (BoG) has raised GHS 2.92 billion through the issuance of short-term bills as part of its monetary policy operations aimed at managing liquidity in the banking sector. \r\n The auction, held on Wednesday, April 16, 2025, featured 56-day BoG bills and was cleared at a yield of 27.9 percent, according to official results released by the central bank. However, the central bank did not disclose the total value of bids submitted by banks, nor did it indicate the target amount for the issuance. \r\n BoG bills are typically issued through Open Market Operations (OMO) and are a key monetary policy tool used to influence money supply and short-term interest rates. By selling these securities, the central bank withdraws excess liquidity from the financial system, thereby tightening monetary conditions when necessary. \r\n While the BoG has not explicitly stated the end-use of proceeds from the auction, such issuances are often used to provide short-term financing to the government or to mop up surplus liquidity in the interbank market. \r\n The 27.9 percent yield signals the central bank\u2019s continued focus on maintaining a tight monetary stance amid persistent inflationary pressures and a cautious macroeconomic outlook. As the interest rate on BoG bills typically reflects the effective monetary policy rate, market participants view the auction as a signal of the Central Bank's ongoing commitment to price stability. \r\n The move also comes at a time when the central bank is delicately balancing its liquidity management role against broader efforts to support fiscal operations, particularly as Ghana continues to navigate the path toward macroeconomic consolidation under an IMF-supported programme. "

"BoG Tightens Liquidity With GHS 2.92 Billion Mobilisation via 56-Day Bills\u00a0"

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