The Ghanaian government has missed its Treasury bill target for the ninth consecutive week, as liquidity remains tight on the money market ahead of the December 2024 elections.

According to auction results from the Bank of Ghana, the government secured GH¢4.84 billion against a target of GH¢5.604 billion, reflecting an undersubscription of GH¢754.86 million, or 13.47%.

Despite the shortfall, all bids submitted for the short-term instruments were accepted.

The breakdown showed that GH¢3.903 billion, representing 80.49% of the total bids, was tendered for the 91-Day Bill.

Meanwhile, GH¢748.58 million was submitted for the 182-Day Bill, and the 364-Day Bill received the lowest bid, at GH¢197.11 million.

Interest rates saw a marginal increase on the yield curve.

The yield on the 91-Day Bill rose by 2.0 basis points to 24.90%, while the 182-Day Bill's rate remained relatively unchanged at 26.78%.

The 364-day Bill edged up slightly to 27.92% from the previous week's 27.91%.