The Treasury bill auction held on October 24, 2025, recorded another undersubscription as investor demand remained weak. The auction saw total bids of GH¢4.76 billion against a target of GH¢6.82 billion, representing an undersubscription of about 30%. All bids were accepted—GH¢3.49 billion for the 91-day bill, GH¢785 million for the 182-day, and GH¢488 million for the 364-day.

Interest rates firmed slightly across all maturities, extending the mild upward trend observed in recent weeks. The 91-day bill cleared at a weighted average rate of 10.67%, up from 10.70% the previous week. The 182-day bill recorded 12.47% compared to 12.44%, while the 364-day bill edged up to 12.88% from 12.92%. The small but consistent increases in yields reflect continued tight liquidity conditions in the money market, even as inflation remains contained.

The next auction, scheduled for October 31, 2025, targets GH¢5.33 billion.