Why the BoG’s return to the 14-Day Bill indicates a crisis in liquidity: IERPP cautions

The official justification for the Bank of Ghana’s announcement on November 26, 2025, that it is going back to using the 14-day bill as its main tool for Open Market Operations (OMO) is to “strengthen liquidity management and improve policy transmission.”

However, the underlying data from the BoG Summary of Economic and Financial Data (Nov 2025) shows that this is a direct reaction to a developing liquidity crisis within the financial system rather than a standard policy improvement.

Source: www.myjoyonline.com

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