The President of the Association of Ghana Industries (AGI), Dr Yaw Adu Gyamfi has said that members of the association are hopeful that the Bank of Ghana will reduce its lending rate again as it announces a policy rate today, Monday 24th September 2018.
They believe that the development should reduce interest rates paid on loans they contract from their banks going forward.
Todays meeting concludes the regular meetings of the Monetary Policy Committee of the central bank.
The committee, among others has been looking at the country’s economic health and is expected to announce new measures to sustain growth where necessary.
In an interview with Citi Business News, ahead of the announcement of the new policy rate Mr Adu Gyamfi said a reduction in the policy rate is highly expected.
“We are praying that there will be a reduction in the rate, I mean Oliver asked for more, so if it comes down we will feel better”, he said.
He added, “At least the rate should never go higher than where it currently is, so we are praying that things will get better, should it be reduced then it will benefit all of us will”.
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By: Anita Arthur/citibusinessnews.com/Ghana