Tag: BoG
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MPC must reduce policy rate – Prof. Bokpin
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…
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Inaccurate data from BoG, Finance Ministry affecting gov’t work – Osafo-Maafo
Senior Minister Nominee, Yaw Osafo-Maafo has disclosed that the lack of accurate data on Ghana’s debt has made it difficult for the NPP government to make projections on the fiscal gap to influence planning. According to him, the inconsistency of data from the Ministry of Finance and the Bank of Ghana on the debt owed…
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Mixed reactions meet BoG’s $ 120m auction
There are mixed reactions over the Bank of Ghana’s decision to auction 120 million dollars to commercial banks between January and March this year. A calendar issued by the central bank said it will auction 40 million dollars monthly, to the commercial banks between the three month period. The move follows a similar one carried…
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Govt to issue 17.4 billion cedis in debt securities
Government will in the first quarter of 2017, borrow 17,400.00 million cedis through bonds and treasury bills and other government securities. The cash will be used rollover forecast maturities, meet Government’s financing requirements and build buffers for liability management. Of this 15,504.43 million cedis will be used to rollover forecast maturities and the remaining 1,895.57…
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Change in gov’t not to affect MPC decision – Prof. Bokpin
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…
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BoG predicts improved balance sheets for banks in 2017
The Head of Banking Supervision at the Bank of Ghana, Raymond Amanfu, has predicted of an improved performance of the banking sector in 2017. According to him, the relative stability in some macro-economic indicators should help banks improve their balance sheets this year. “As a supervisor that is my hope, the issue of the bad…
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Replace BoG’s complaints wing with independent Ombudsman – Nana Otuo Acheampong
The Bank of Ghana may have to resort to an independent body if it wants to effectively address concerns within the banking industry and reduce apprehension among industry players. This is the advice from Banking Consultant, Nana Otuo Acheampong. His comment comes on the back of a new contact centre to handle all concerns relating…
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ADB attributes rise in share price to investor confidence
The Agricultural Development Bank (ADB) has attributed the significant performance of the bank’s share price to investor confidence in the banking stock. As at close of trading on Monday, December 19th 2016, the share price of ADB had gained about 38 pesewas and trading at 3 cedis 33 pesewas. Also, a total of 10,000 ADB…
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New Call Centre to bridge information gap – BoG
Effective Friday, December 23, 2016, the general public would have direct access to the Bank of Ghana (BoG) for clarity on issues concerning the bank’s operations. It follows the establishment of a new Contact Centre by the central bank. The Centre will also deal with requests, queries and complaints related to the banking industry. The…
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BoG still owns 9.5 percent stake in ADB
The Bank of Ghana (BoG) is to still own a stake in the Agricultural Development Bank (ADB) despite the completion of the bank’s Initial Public Offer (IPO) early this month. It follows the inability of ADB to achieve a full subscription of its Initial Public Offer on Monday, December 5th, 2016. The Bank of Ghana…