GHS 4 billion in Central Bank bills auctioned
Central Bank bills worth over GHS 4 billion has been auctioned by the Bank of Ghana (BoG).
The 56-day maturity period Central Bank bills was auctioned by the BoG on Wednesday, February 28, 2024.
In line with its current policy rate, the BoG auctioned its bills at an interest rate of 28.9%.
The short-term debt instrument auctioned by the Bank itself is expected to be loaned to the Central Government to support its short-term financing needs.
Aside from that, the bills are also to help manage the liquidity of the banking system through selling short-term securities on the primary market.
Central Bank bills are mostly auctioned through Open Market Operations (OMO) which serve as a monetary policy tool for central banks to regulate the supply of money in an economy.
