The Bank of Ghana (BoG) has raised GHS 4.05 billion through the sale of 56-day central bank bills, reinforcing its commitment to tighten liquidity and maintain monetary policy discipline amid ongoing disinflation efforts.
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The bills, auctioned on June 18, carried an interest rate of 27.9%, aligning with the central bank’s benchmark policy rate. This issuance is part of the BoG’s broader Open Market Operations (OMO), aimed at absorbing excess liquidity from the banking sector and guiding inflation expectations.
Although the bank disclosed the interest rate and total funds raised, it withheld data on the bid volume and auction target, key metrics typically monitored by investors to assess demand strength.
The relatively high yield signals BoG’s firm stance on disinflation, despite the economic challenges posed by a fragile post-crisis recovery and adjustments under Ghana’s ongoing IMF programme.
Analysts believe the proceeds will offer the government short-term funding support, a standard component of the BoG’s liquidity management tools.
