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Tag Archives: policy rate

BoG reduces policy rate by 150 basis points

Governor of Bank of Ghana Dr. Ernest Addison

The Bank of Ghana has reduced its policy rate to 21 percent. The figure represents a 150 basis points reduction from the 22.5 percent. This is the third consecutive time that the policy rate has been reduced by the central bank. Governor of the Bank of Ghana, Dr. Ernest Addison who announced the new rate at a media briefing on ...

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Economist pushes for a reduction in policy rate

bog microfinance

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

bog microfinance

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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Banks initiate moves to cut interest rates for customers

Odun Odunfa - MD/CEO of First Atlantic Bank

Some banks have given indication of cutting their interest rates to reflect the reduction in the policy rate by the Bank of Ghana. They explain that the move forms part of plans to reduce the plight of businesses and eventually correct the bad loans in their books. The Bank of Ghana (BoG), in its 75th MPC meeting reduced its prime ...

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BoG reduces policy rate to 23.5%

Dr. Abdul Nashir Issahaku

The Monetary Policy Committee of the Bank of Ghana has reduced the policy rate to 23.5 percent. This represents a 200 basis point reduction from the previous figure; 25.5 percent. Governor of the Central bank, Dr. Abdul Nashiru Issahaku disclosed this at the press briefing to conclude the second MPC meeting for 2017. Dr Issahaku cited the declining inflation among ...

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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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‘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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AGI wants policy rate reduced

seth twum akwaboah

The Association of Ghana Industries (AGI) is impressing on the central bank to reduce the policy rate and assist businesses to thrive. It comes on the back of the decision by the Monetary Policy Committee (MPC) to maintain the policy rate at 26 percent. Although the CEO of the AGI, Seth Twum Akwaboah says the decision could reflect a relative ...

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Policy rate maintained at 26 percent again

Governor of BoG

The Monetary Policy Committee of the Bank of Ghana has once again maintained the policy rate at 26 percent. This is the fourth consecutive time the Committee is maintaining the rate at 26 percent since January this year. Addressing the media at the concluding part of the 72nd meeting of the MPC, Governor of the Central Bank, Dr. Abdul Nashir ...

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