- BoG Takes GH¢17.06bn From Market Through 14-Day Bills
The Bank of Ghana withdrew GH¢17.06 billion from the financial system through its latest short-term bills auction, as the central bank continued its liquidity-mopping operations to support monetary stability.
According to the results of Tender 864 held on June 1, 2026, the central bank sold GH¢17,058.00 million in 14-day Bank of Ghana bills. The instrument, issued under ISIN GHCBAGH01082, attracted bid rates ranging from 10.4000 per cent to 11.0000 per cent per annum. All bids within that range were allotted in full.
The weighted average discount rate for the 14-day bill settled at 10.9028 per cent, while the weighted average interest rate stood at 10.9487 per cent for the period covering June 1 to June 2, 2026.
This latest auction reflects the Bank of Ghana’s continued use of short-term securities to absorb excess liquidity from the market, a key part of its monetary policy operations.
By mopping up liquidity, the central bank helps manage short-term money market conditions, contain inflationary pressures and support exchange rate stability.
The GH¢17.06 billion taken from the market marks another sizeable sterilisation operation by the Bank of Ghana, although lower than some recent auctions where liquidity absorption exceeded GH¢20 billion.
The decline in the weighted average interest rate to below 11 per cent also points to easing short-term money market rates, consistent with the broader downward trend in yields across Ghana’s fixed income market.
For banks and institutional investors, the 14-day BoG bill remains a short-duration instrument for liquidity placement, especially in an environment where Treasury bill yields have fallen sharply and market participants continue to adjust portfolios.
The auction shows that while inflation has eased and macroeconomic conditions have improved, the central bank is still actively managing liquidity to prevent excess cash from undermining price and currency stability.
