The Bank of Ghana (BoG) has successfully raised GH¢5.69 billion through the issuance of 56-day central bank bills, as part of its continued efforts to tighten liquidity and manage inflationary pressures in the economy.

The auction, held on June 23, 2025, cleared at an interest rate of 27.9%, which is in line with the central bank’s current monetary policy rate.

This issuance falls under the BoG’s Open Market Operations (OMO) — a core monetary policy tool used to regulate money supply, influence short-term interest rates, and signal the central bank’s policy direction to the market.

The alignment of the yield with the benchmark policy rate reflects the BoG’s firm stance on curbing inflation, even as it works to support economic recovery under Ghana’s US$3 billion Extended Credit Facility (ECF) agreement with the International Monetary Fund (IMF).

While specific bid coverage data was not disclosed, the substantial size of the issuance suggests strong participation from institutional investors and a continued vote of confidence in the BoG’s policy framework.

The proceeds from the short-term bills will provide temporary budgetary support for government operations and serve as a tool to absorb excess liquidity, helping to moderate demand-side pressures within the economy.