BoG raises GH¢3.42 billion through 56 day bills

The Bank of Ghana has raised GH¢3.42 cardinal done the issuance of 56-day bills successful its latest Open Market Operation, reinforcing its liquidity absorption stance amid elevated ostentation and efforts to stabilise short-term rates.

The auction conducted connected Monday, May 5, 2025 priced the bills astatine a output of 27.9 percent conscionable beneath the benchmark monetary argumentation complaint of 28 percent.

While the cardinal slope did not disclose either the size of bids received oregon the auction target, marketplace analysts presumption the issuance arsenic successful, citing sustained request for high-yielding cedi assets successful a tightening monetary environment.

This latest involution aligns with the BoG’s broader strategy to sorb excess liquidity from the banking assemblage and anchor ostentation expectations.

The short-term securities besides service arsenic a cardinal instrumentality for influencing interbank rates and guiding wealth marketplace pricing.

The occurrence of the 56-day measure issuance reflects capitalist assurance successful short-term sovereign recognition contempt macroeconomic uncertainties.

It besides illustrates the BoG’s delicate balancing enactment of supporting fiscal operations portion maintaining its inflation-targeting framework.

Proceeds from BoG bills are often deployed toward the short-term financing needs of the authorities suggesting ongoing coordination betwixt fiscal and monetary authorities.

SP/MA

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