For the third straight week, government fell short of its target with GH¢7.19 billion raised out of a target of GH¢7.59 billion on June 13. Despite this seeming lack of demand, the government was able to continue its policy of reducing borrowing costs by dropping the interest rates.

Government accepted all the bids tendered and rates fell across board to 14.7023%, 15.2543%, and 15.7418% for the 91-day, 182-day and 364-day treasury bill respectively. This is in contrast to the 14.7922%, 14.590%, and 15.7991% recorded in the previous auction on June 5.

Government’s next auction is on June 20 where it expects to raise GH¢4.55 billion.