Central Bank Auctions GHS 919 Million in Bills
The Bank of Ghana (BoG) successfully auctioned Central Bank bills worth over GHS 919 million on Wednesday, November 27, 2024.
The short-term debt instrument, maturing in 56 days, was issued at an interest rate of 27%, aligning with the BoG’s current policy rate.
The proceeds from the auction are expected to be loaned to the Central Government, providing support for its short-term financing requirements.
Additionally, these bills serve a critical function in managing liquidity within the banking system, ensuring monetary stability.
The auction was conducted under the framework of Open Market Operations (OMO), a monetary policy tool employed by central banks to control money supply.
By selling short-term securities, the BoG seeks to absorb excess liquidity from the banking system, thereby influencing economic conditions in line with its policy objectives.
The auction reflects the BoG’s continued efforts to balance liquidity management and fiscal support amid Ghana’s challenging economic environment.
