The Bank of Ghana (BoG) has successfully raised GH₵ 464 million from the issuance of its short-term bills.
The 56-day BoG bills were auctioned on Wednesday, February 5, 2025, at an interest rate of 26.9 percent, according to auction results published by the Central Bank.
However, the report did not disclose the total value of bids submitted by banks or the BoG’s initial target for the auction.
BoG bills are a key monetary policy tool used by the Central Bank as part of its Open Market Operations (OMO) to regulate liquidity in the financial system.
By issuing these short-term securities, the BoG aims to manage money supply and stabilize economic conditions.
In many instances, funds raised from BoG bill auctions are used to provide short-term financing to the government.
Additionally, the interest rate on these bills plays a crucial role in shaping the Central Bank’s monetary policy stance.
In recent development, the Bank of Ghana has reduced its Monetary Policy Rate by 200 basis points to 27%, reflecting improved macroeconomic conditions and easing inflationary pressures.
Further, the government plans to borrow approximately GH₵ 200 billion from the Treasury bill market in 2025, a decrease from the estimated GH₵ 220 billion in 2024.
This strategic shift aims to reduce reliance on short-term borrowing and focus more on long-term securities, aligning with broader economic recovery efforts.
These measures indicate a concerted effort by Ghana’s financial authorities to manage liquidity, control inflation, and support sustainable economic growth.
