The central bank of Ghana’s latest short-term securities sale has been priced at an average weight interest rate of 10.50 percent.
Per report, the central bank has mopped up GHS 24.80 billion from the market through the sale of its 14-day bills, as part of ongoing liquidity management operations which aims at supporting monetary policy transmission and controlling excess liquidity in the financial system.
The Bank of Ghana’s Notice to Banks and the Public No. 865, the results of Tender 865, held on June 10, 2026, showed total amount sold of GHS 24,797.57 million, equivalent to GHS 24.80 billion.
The 14-day Bank of Ghana bill, with ISIN GHCBAGH01116, recorded a bid rate range of 10.40 percent to 10.46 percent per annum.
The bid rates allotted in full were also within the same range, while the interest rate allotment ranges from 10.44 percent to 10.50 percent.
The average weight discount rate for the June 10 to June 12, 2026 period was 10.46 percent, while the weighted average interest rate stood at 10.50 percent.
The auction forms part of the central bank’s regular open market operations, a medium to absorb excess liquidity from the banking system to help manage short-term interest rates and support broader monetary stability.
The Central Bank of Ghana bills are specifically used as liquidity-mopping instruments rather than a government financing tools as the bank is allowed to withdraw surplus funds from the market, reduce liquidity-driven inflationary pressures and strengthen the effectiveness of its monetary policy position.
The latest sale comes at a time when the Bank of Ghana is working to preserve recent macroeconomic gains, stabilise inflation expectations and support exchange rate.
By selling short-term central bank bills, the Bank can effectively reduce the amount of free liquidity available in the banking system.
This can help in limiting speculative demand for foreign exchange, moderate inflationary impulses and to keep short-term money market conditions which aligns with the central bank’s policy objectives as the size of the latest auction signals continued active liquidity management by the central bank.
With GHS 24.80 billion, the amount mopped up was significant and a proof of the Bank’s determination to maintain its control over liquidity at a time when financial market stability remains central to the country’s economic recovery.
The weighted average interest rate of 10.50 percent also provides a signal on short-term liquidity pricing in the market.
The 14-day bill continues to offer a short-tenor placement option for banks and money markets while serving the central bank’s objective of absorbing liquidity without having a direct increment on government borrowing.
The result also shows a lower weighted average interest rate compared with some earlier liquidity-mopping operations pointing to the fact that the money market pricing remains contained even as the central bank continues to absorb substantial liquidity.
This reinforces the role of the Bank of Ghana’s bills as a key liquidity management instrument in Ghana’s monetary policy framework.
The central bank’s challenge has to do with maintaining liquidity discipline without creating undesired pressure on credit conditions, especially as government seeks to support private sector activity and economic growth.
For the meantime, the latest auction confirms that the Central Bank of Ghana remains active in using its short-term securities to mop up liquidity and safeguard monetary stability.
Story By Martha Seyram Jackson || Metro Digital
