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Tag Archives: MPC

Stable economy to push down interest rates – PEF

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The Private Enterprise Federation has lauded the move by the Bank of Ghana to reduce the MPC rate by 100 basis points although they admit that a further reduction would have had a greater impact on their businesses. The new figure (22.5%), was announced by the Governor, Dr. Ernest Addison after supervising his maiden Monetary Policy Committee(MPC) meeting on Monday, ...

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Economist pushes for a reduction in policy rate

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Ahead of the announcement of a new policy rate by the Bank of Ghana on Monday, some economists are predicting a further drop in the policy rate. Economist Professor Godfred Bokpin explains to Citi Business News, the reduction in interest payments due to the debt restructuring, should prompt a further drop in the policy rate. He also argues that the ...

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MPC likely to maintain policy rate at 23.5% – GN Research

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GN Research expects the Monetary Policy Committee (MPC) to keep the Monetary Policy Rate at 23.5%, due to a positive trend in inflation outlook, a stable currency, an improved investor confidence and the general positive outlook for the economy. The (MPC) of the central bank is set to announce a new Monetary Policy Rate (MPR), on Monday May 22, 2017, ...

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Declining inflation, ‘stable’ cedi to signal drop in policy rate

Economist Dr. Lord Mensah

Economists are highly expectant of a reduction in the policy rate by the Monetary Policy Committee (MPC) of the Bank of Ghana as the Committee prepares to announce its new rate next Monday. They cite the declining inflation, relative stability of the cedi and government’s pro business agenda as the basis for their claims. “Obviously looking at what is happening ...

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Businesses lament over 25.5 % policy rate

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Private sector businesses and economists want the Bank of Ghana to review its stance in pegging the policy rate at 25.5 percent in January 2017. They argue that the development is less likely to compel commercial banks to adjust their respective rates on loans and advances to customers. The Monetary Policy Committee of the central bank in its first meeting ...

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MPC must reduce policy rate – Prof. Bokpin

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Economist Professor Godfred Bokpin has impressed on the Bank of Ghana (BoG) on the need to reduce the policy rate even as the Monetary Policy Committee (MPC) announces a new rate today. Professor Bokpin explains to Citi Business News a decline in the policy rate by at least 200 basis points will relieve businesses of their current plight and reflect ...

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Change in gov’t not to affect MPC decision – Prof. Bokpin

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Economists have ruled out any significant impact of the change in government on the operations of the Monetary Policy Committee of the Bank of Ghana. It follows the commencement of the MPC’s first regular meeting for 2017 on Monday January 16th, 2017. Per the regulations governing the Central Bank, the Governor of the central bank is the Chairman of the ...

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Interests on loans to drop if … – Nana Otuo Acheampong

Nana Otuo Acheampong

Some financial analysts are anticipating that the Bank of Ghana (BoG) will sustain the decision to reduce further, its policy rate to ease access to credit to businesses. According to them, commercial banks will respond to calls for lower interest rates if the primary reference which is the policy rate, drops. “It is in the right direction and we hope ...

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‘Reduced’ policy rate not good for businesses – Economist

Economist Dr. Lord Mensah

Economist, Dr. Lord Mensah has ruled out an immediate reaction from commercial banks following the reduction of the policy rate. Though he has lauded the Bank of Ghana (BoG)’s decision to reduce the rate, he describes the figure as marginal. According to Dr. Lord Mensah, businesses must therefore be guarded in their expectations of a reduction in interests charged on ...

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MPC to announce policy rate next Monday

Dr. Abdul Nashir Issahaku

The Monetary Policy Committee (MPC) of the Bank of Ghana will next week Monday, announce its policy rate for commercial banks in the country. The announcement will conclude the MPC’s 73rd regular meeting which starts this Friday, November 14. For the fourth consecutive time this year, the MPC kept the policy rate unchanged at 26 percent at its last meeting ...

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