Interest rates on the money market broadly showed mixed trends at the short end of the primary market on year-on-year basis, the Bank of Ghana’s Monetary Policy Report of July 2024 has said.

The 91-day and 182-day Treasury bill rates increased to 24.91 per cent, and 26.84 per cent, respectively, in June 2024, from 21.77 per cent and 24.58 per cent in the corresponding period of 202, noted the report.

It said the rate on the 364-day instrument decreased to 27.83 per cent in June 2024 from 28.66 per cent in June 2023.

The Interbank Weighted Average Rate (IWAR) increased to 28.80 per cent in June 2024, from 26.01 per cent in June 2023, consistent with the trajectory of monetary policy rate, and underpinned by sustained liquidity withdrawal from the market.

However, the average lending rates of banks declined marginally to 31.10 percent in June 2024, from 31.15 per cent recorded in the corresponding period of 2023.