Despite concerns about the potential costliness of government maturities, interest rates on treasury bills continue to rise, persisting throughout most of the year.

Although the government has experienced oversubscriptions in recent times, there was a slight undersubscription observed this week.

Currently, interest rates range between 28.79% and 32.82%.

In the most recent treasury bill auction held on September 29, 2023, the government secured GH¢2.49 billion. The results indicated a marginal undersubscription of GH¢70.12 million compared to the target of GH¢2.570 billion.

As per the Bank of Ghana's report, all bids submitted in this week's auction were accepted, but the overall target fell short.

Specifically, the 91-day bill received a total subscription of GH¢1.88 billion, GH¢484.17 billion was accepted for the 182-day bill, and GH¢131.16 million was accepted for the 364-day bills.

The government has set its next auction target at GH¢2.109 billion.