T-bills auction: Government exceeds target by 51%, interest rates fall again
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The government's latest Treasury bill auction overshot its target by 51 percent, pulling in far more bids than expected. The 91-day bill led demand for the first time in several months, drawing GH¢6.2 billion, or 62.6 percent of all bids tendered. Interest rates on the securities fell again, extending a recent downward slide. The heavy oversubscription points to strong appetite for short-term government paper.
For the first time in several months, the 91-day bill led the pack with GH¢6.2 billion of the bids tendered, representing 62.6% of the total bids.
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