According to auction results by the Bank of Ghana, demand for treasury bills surged.

The 91-day bill eased to 29.19%, from 29.24% the previous week.

The 182-day bill also went down by 14 basis points to 31.74%.

Again, the 364-day bill retreated to 32.34% from 32.48% previously.

With the Ghana Statistical Service set to announce December 2023 inflation this week, it is likely interest rates will go down further next week.

Meanwhile, the government got 15.24% more than the targeted amount of ¢2.837 billion.

The majority of the bids came from the 91-day bill. ¢2.143 billion tendered were all accepted.

It was followed by the 182-day bill in which ¢595.72 million were tendered. All the bids were accepted.

For the 364-day bill, 484.22 million of the bids were tendered. The uptake was 479.43 million.

Myjoyonline