Central Bank raise GHS 900m in 14-day bill auction
The Central Bank raised some GHS 900 million from the issuance of its own bills – Bank of Ghana bills .
The BoG bills with a maturity period of 14 days was auctioned by the Central Bank on Tuesday, September 20, 2022.
Value of bids made by commercial banks for the Central Bank bills were not stated, the bill was however, auctioned at an interest rate of 22 percent.
The BoG 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.
In most cases, funds raised from the auction of the BoG bills are directly loaned to government to support its short term needs.
Bog Auctresults 673 Wed 20 Sept 22 by Fuaad Dodoo on Scribd
