The Bank of Ghana (BoG) absorbed GH¢13.83 bn from the financial system through a 14‑day bill auction held on Monday, October 12, 2026, expanding its short‑term liquidity management operations to influence money market conditions.
The auction attracted a transaction volume about 53.5% higher than the GH¢9.008 bn recorded on October 7, and 31.4% above the GH¢10.524 bn sold on October 5, marking an increase of GH¢4.822 bn over the prior auction and GH¢3.307 bn over the earlier operation of the week.
Combined, the three auctions between October 5 and 12 generated gross sales of approximately GH¢33.36 bn in 14‑day bills. The bills were issued at an interest rate of 10.50%, offering investors a short‑term placement while allowing the central bank to withdraw funds from the system.
These 14‑day bills form part of the BoG’s open market operations, which it uses to manage liquidity and influence short‑term interest rates. By absorbing excess funds, the central bank can moderate liquidity conditions in the banking system and support the transmission of monetary policy.
The scale of the latest auction underscores the BoG’s activity at the shortest end of the money market. Its impact on market rates and banking sector liquidity will depend on prevailing financial conditions and the central bank’s subsequent actions. A sustained withdrawal of funds could tighten liquidity and affect short‑term borrowing costs, while the 10.50% rate provides a benchmark for short‑term placements with the central bank.
