Central Bank auctions 14-day bill; raises Ghs 1.54 billion
The Central Bank has raised some Ghs 1.54 billion in debt from the issuance of its Bank of Ghana (BoG) bills.
The bills with a maturity period of 14 days was auctioned by the Bank on Wednesday, September 29, 2021.
Per the auction results released by the BoG, it is unclear the value of bids made by the various authourised primary dealers involved in the auction.
It is also not known whether the Central Bank was able to meet its target with the auction of the 14-day bills as both amounts were not stated by the BoG in the auction results.
The bill was however, auctioned at a discount rate of 13.4 percent.
Read: BoG: Highlights of 102nd Monetary Policy Committee meeting [Infographs]
Central Bank bills mostly employed through Open Market Operations (OMO), serves 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.
The interest rate on the Central Bank bills is the key interest rate that determines the monetary policy stance or rate. The bills usually have fixed maturities of 28, 63, 91 and 182 days.
Peruse details of auction results below:
BOG Auctresults 622 WED 29 SEP 21 by Fuaad Dodoo on Scribd
