Tag: lending rates
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Cut your rates before asking banks to reduce lending rates – Economist to BoG
A finance lecturer at the University of Ghana Business School, Prof. Godfred Bokpin is of the view that it may be premature for commercial banks in Ghana to lower their lending rates in response to the recent decline in inflation rate. Bokpin’s comment follows the call by the Bank of Ghana for commercial banks operating…
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Bank of Ghana likely to maintain Monetary Policy Rate at 14.5% – IEA predicts
The Institute of Economic Affairs (IEA), is projecting an unchanged policy rate of 14.5% by the Bank of Ghana. The Monetary Policy Committee of the Central Bank is presently holding its 104th Monetary Policy Committee meeting to review developments in the economy. Speaking during a roundtable meeting on “Making Monetary Policy in Ghana More Fit-For-Purpose”…
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Lending rates won’t go down any time soon – Economist
An Economist with Databank, Courage Martey, is concerned that lending rates in the short term, will not see a reduction, even though multiple business groups such as the Ghana Union of Traders Association (GUTA) have been calling for a reduction in the cost of credit to enable them to be competitive in the sub-region. Latest…
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Lending rates to drop further – BoG
The Bank of Ghana (BoG) has assured the business community of its commitment to reduce its lending rates for commercial banks in the country. This is also expected to prompt a further drop in the lending rates of commercial banks to their customers. The Central bank is hopeful that the move will also reduce the…
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BoG worried over high lending rates
The Governor of the Bank of Ghana (BoG) Dr. Abdul Nashir Issahaku has described as worrying the country’s current average lending rate which is hovering around 33 percent. According to Dr. Issahaku, the central bank is committed to bringing down lending rates by tightening monetary policy. Speaking to Citi Business News, Dr. Issahaku said the…