The treasury bill auction held on November 7, 2025, recorded total bids of GH¢4.51 billion against a target of GH¢6.84 billion, representing an undersubscription of about 34%. All bids were accepted.

Yields continued to edge upward. The 91-day bill cleared at 10.93%, up from 10.82% the previous week. The 182-day bill settled at 12.61%, compared to 12.50%, while the 364-day bill rose to 13.02% from 12.95%. The weak demand for treasury bills is likely to result in a hefty policy rate cut in the next monetary policy committee (MPC) meeting of the Bank of Ghana (BoG). This will reduce the wide spread between the rates of BoG bills and that of Government of Ghana (GoG) bills.

The next auction, scheduled for November 14, 2025, targets GH¢5.68 billion.