Debt Auction: BoG mobilizes GHS 2.44bn debt; to pay interest rate of 27%
The Bank of Ghana (BoG), has raised some GHS 2.44 billion in debt from the issuance of its own bills.
The BoG bill with a maturity period of 14 days was auctioned by the Central Bank on Wednesday, November 30, 2022.
Per the auction results released by the BoG, it is unclear the value of bids made by commercial banks for the Central Bank bills as well as whether the BoG was able to meet its target with the auctions of its bills as both amounts were not stated by the BoG.
The bills however, were auctioned at an interest rate of 27 percent, some 250 basis points more than the previous interest rate of 24.5%.
Central Bank bills mostly employed through Open Market Operations (OMO), serves as a monetary policy tool used by Central Banks to regulate money supply.
