Tag: Central Bank
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Services sector maintains dominance in 2020 third quarter – BoG report
New data released by the Bank of Ghana on developments within the labour market indicates that the Services Sector has maintained its dominance as the leading job-providing sector in the economy, accounting for 80.2 percent of total job adverts recorded during the third quarter of 2020. This compares with a share of 82.2 percent recorded…
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Bank of Ghana maintains policy rate at 14.5%
The Monetary Policy Committee of the Bank of Ghana has maintained the policy rate at 14.5 percent after a similar decision in May this year. The rate is of keen interest to businesses, as it determines the rate at which the BoG lends to commercial banks, and subsequently influences interest rate on loans. The Governor…
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Bank of Ghana to announce Monetary Policy Rate today
The Monetary Policy Committee (MPC) of the Bank of Ghana, is set to announce the policy rate later on Monday, July 27, 2020. The rate is of keen interest to businesses, as it determines the rate at which the BoG lends to commercial banks, and subsequently influences interest rate on loans. The Committee begun its…
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BoG likely to reduce or maintain policy rate to protect businesses – Lord Mensah
Economist, Dr. Lord Mensah, says he does not foresee an increase in the policy rate anytime soon. According to him, the Central Bank is likely to either maintain or reduce it further to cushion businesses as they are already struggling due to the impact of the Covid-19. The Policy rate determines the rate at which…
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Halting dividend payments to shareholders necessary to protect banks – Banking consultant
Banking Consultant, Nana Otuo Acheampongm says the Bank of Ghana has the power to undertake periodic assessment of the financial sector to protect depositors’ funds as the country fights the COVID-19 disease. His assertion follows a directive by the central bank to all banks and Specialized Deposit Institutions (SDIs), to desist from declaring and paying…
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BoG reschedules MPC presser to tomorrow
The Monetary Policy Committee of the Bank of Ghana is now scheduled to announce its policy rate tomorrow having brought the date forward from the earlier advertised July 22, 2019 According to a notice sent to journalists, the change has been necessitated by the fact that the Minister of Finance will be presenting its mid-year…