Overall, such market-based measures are probably not representative at present, and below the inflation expectations relevant for our monetary policy. This episode highlights that the various indicators have different advantages and shortcomings. [5] In general, they should not be viewed as substitutes, but used instead as complementary information.
In March 1996, in consultation with dealers in the market, the Bank of Ghana stopped the retail market of Treasury Bills. It was envisaged at the inception of the wholesale auction that the primary market would be stimulated and broadened through increased competition for the evolution of a more efficient and dynamic secondary market.