Central Bank auctions 14-day bills worth Ghs 1.3 billion
The Central Bank has raised some Ghs 1.3 billion in debt from the auction of a 14-day treasury bill.
The auction of the 14-day T-bill which happens to be the Bank’s own short-term debt security was made on Wednesday, September 1, 2021.
The Central Bank bills, per the auction results released by the Bank of Ghana (BoG) was auctioned at a discount rate of 13.4 percent.
The value of bids made by banks, insurance firms and pension funds for the BoG bills was not indicated in the auction results.
Also, as to whether the BoG was able to meet its target with the auction was not made known as both amounts were not stated by the BoG in the auction results.
Central Bank bills as employed by the BoG is mainly auctioned through Open Market Operations (OMO) which serves as a monetary policy tool used by the BoG to regulate money supply in the economy.
The main function of bills is to manage the liquidity of the banking system through selling short-term securities on the primary market.
In most cases, funds raised from the auction of the BoG bills are directly loaned to government to support its short term financing needs.
Peruse details of auction results below:
BOG Auctresults 618 WED 1 SEP 21 by Fuaad Dodoo on Scribd
