Interest rates record relative stability after government announcement of IMF decision
Interest rates have started to register some stability, following the government’s decision to obtain economic support from the International Monetary Fund.
At the same time, the government achieved a 75% oversubscription of the weekly sale of treasury bills.
It is encouraging that interest rates have started to stabilize after weeks of steady increases.
This indicates that the economic assistance requested from the IMF by the government will have a positive impact on the economy.
Liquidity is expected to improve in the market in the coming weeks.
According to the Bank of Ghana auction results, the interest rate on 91-day Treasury bills stood at 25.88%, down from 25.6% a week ago.
That of 91-day Treasury bills also stood at 26.55%, against 26.4% the previous week.
During this time, the government achieved a 75% oversubscription of the sale of short-term instruments.
He got ¢926.5 million, out of a target of ¢529 million.
Part of the amount was mobilized from 91-day Treasury bills.
|Securities||Tenders submitted (GH¢)||Bids Accepted (GH¢)||Interest rate|
|91 day invoice||649.86 million||597.76 million||25.88%|
|182 day invoice||276.65 million||229.77 million||26.55%|
|Total||926.51 million||827.53 million|