Tag: interest rates
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Banks’ lending rates drop marginally
Citi Business News’ checks have revealed that the Annual Percentage Rates and Average Interest Rates recorded in October have dropped marginally as compared to that of September 2017. Between September and October this year, all but one of the nine categories of the Bank of Ghana’s Annual Percentage and Average Interest rate report, witnessed a marginal…
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Banks reduce interest rates on deposits
Commercial banks have reduced their interest rates they offer on customer deposits. Latest figures released by the Bank of Ghana have shown that the average interest rate customers get on money deposited at banks reached 10.4 percent in September 2017. According to the Annual Percentage Rates (APR) and Average Interest (AI) report, the figure is…
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Reducing interest rates: Economist hopeful of banks’ response
Some economists are predicting that commercial banks across the country will soon reduce their interest rates. Figures from the Bank of Ghana (BoG) show that the 91 day Treasury bill is at 12.5 percent while that of 182 days is at 12.9 percent. Following the decline, there have been concerns over why interest rates on…
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Banks’ interest rates drop marginally – BoG report
Interest rates of banks have seen marginal declines between April and May 2017. An assessment of the average interests charged by the commercial banks on loans and advances shows that the banks have generally reduced their interest rates. The interest rates on loans and advances have declined between 0.3 and 1.8 percent. According to the…