The Bank of Ghana (BoG) has withdrawn GH¢17.06 billion from the financial system through its latest 14-day bills auction, underscoring the central bank’s continued efforts to manage liquidity and maintain monetary stability.
Results from Tender 864, conducted on June 1, 2026, showed that the central bank sold GH¢17.058 billion worth of 14-day BoG bills. The short-term securities attracted strong demand from banks and other institutional investors, with bid rates ranging between 10.4 per cent and 11 per cent. All bids submitted within the accepted range were allotted in full.
The auction recorded a weighted average discount rate of 10.9028 per cent, while the weighted average interest rate settled at 10.9487 per cent.
The operation forms part of the Bank of Ghana’s regular liquidity management measures aimed at absorbing excess cash from the financial system. By reducing surplus liquidity, the central bank seeks to keep inflationary pressures in check, support exchange rate stability and ensure orderly conditions in the money market.
Although substantial, the GH¢17.06 billion absorbed through the latest auction is lower than some recent operations, where the central bank withdrew more than GH¢20 billion from the market.
The decline in the weighted average interest rate to below 11 per cent also reflects the broader easing of short-term market rates, in line with falling yields across Ghana’s fixed-income market.
For financial institutions, the 14-day BoG bill remains an attractive short-term investment option for managing liquidity, particularly as Treasury bill rates continue to trend downward.
