The government has failed to meet its treasury bill target for the fourth consecutive week, falling short by about 24%, according to auction results from the Bank of Ghana.
The Treasury aimed to raise GH¢4.551 billion but secured only GH¢3.379 billion. Of this, it accepted GH¢2.952 billion.
Analysts say investor preference has shifted towards Bank of Ghana bills, which offer a 27% yield—well above the inflation rate of 18.4%.
The 91-day bill attracted the highest interest, with bids totalling GH¢2.418 billion (71.55% of total bids). The government accepted GH¢2.191 billion.
For the 182-day bill, bids stood at GH¢716.29 million, with GH¢603.74 million accepted.
The 364-day bill saw GH¢236 million in bids, out of which GH¢157.76 million was accepted.
Meanwhile, interest rates on the yield curve dipped slightly:
91-day bill: 14.69% (down 1 basis point)
182-day bill: unchanged at 15.25%
364-day bill: dropped to 15.69% from 15.74%