T-bills target missed for four weeks consecutively, interest rates soar

Treasury bills have remained undersubscribed despite rising interest rates.

Results from the auction showed that the government secured GH¢1.23 billion out of the target of GH¢1.316 billion.

However, interest rates for the 91-day, 182-day, and 364-day Treasury bills stood at 33.34%, 34.85 and, 34.78%.

The 91-day treasury bills received GH¢1.073.48 billion bids whiles the 182-day treasury bills received bids worth GH¢141.41 million of which all bids were accepted.

The 364-day T-bills received GH¢21.73.

Despite the high-interest rate, inflation still stands above 37.2% as of September 2022, signifying a negative return on the investment.

Meanwhile, the government is targeting GH¢2,060 million in its next auction.



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