For the second month in a row, the Ghanaian government fell short of its treasury bill targets as liquidity remained tight in the money market.

According to auction results from the Bank of Ghana, the government's target for treasury bills was missed by GH¢991.61 million.

The target for the auction was set at GH¢5.088 billion, but the government raised only GH¢4.094 billion.

Some analysts have attributed the shortfall to banks preparing to strengthen their capital positions.

Despite this, all bids submitted for the short-term securities were accepted.

The uptake for the 91-day bill was GH¢2.532 billion, accounting for 61.84% of the total bids.

Meanwhile, bids for the 182-day bill amounted to GH¢1.357 billion, while the 364-day bill attracted GH¢205.23 million in bids.

Interest rates also rose across the yield curve. The yield on the 91-day bill increased by 10 basis points to 24.88%.

The interest rate on the 182-day bill climbed to 26.78%, up from 26.68% the previous week. The 364-day bill saw a yield of 27.91%.