Tag: Monetary Policy Committee
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Monetary Policy Committee begins 107th meeting to assess economy
The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) is scheduled to begin its regular meetings from today, Wednesday, July 20, 2022, through to Friday, the July 22, 2022. The 107th meeting of the Monetary Policy Committee is to review developments in the economy and take the necessary steps to ensure financial and…
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Prof. Ebo Turkson appointed to BoG’s Monetary Policy Committee
The Bank of Ghana has appointed Professor Festus Ebo Turkson, as an external member of the Bank of Ghana Monetary Policy Committee (MPC). Professor Turkson replaces Dr. John K. Kwakye who retired as an External Member of the MPC having served the statutory term limit A statement issued by the Central Bank notes that his…
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![Our Monetary Policy Needs Urgent Review – Togbe Afede XIV [ARTICLE]](https://citibusinessnews.com/wp-content/uploads/2021/11/Togbe-Afede-XIV.jpg)
Our Monetary Policy Needs Urgent Review – Togbe Afede XIV [ARTICLE]
This article is a rejoinder to Bank of Ghana, BOG’s press statement headlined, “Responses to Issues Raised by Togbe Afede XIV (TAXIV) on High Interest Rates in Ghana”. During the courtesy call on me by the Rt. Hon. Alban Bagbin, Speaker of Parliament, on November 20, 2021, I spoke against BOG’s high monetary policy rate…
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Bank of Ghana raises Monetary Policy Rate to 14.5%
The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has increased the policy rate by 100 basis points to 14.5% percent. This is the first time the Central Bank has increased the key rate since May this year, after being maintained at 13.5% for two consecutive times. The rate, which is of keen…
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MPC likely to maintain policy rate at 13.5% – IEA
The Institute of Economic Affairs, IEA, has ruled out the possibility of a change in the policy rate to be announced by the Bank of Ghana. This, the IEA says is as a result of calls from President Akufo-Addo and other stakeholders within the financial sector for a relook at the lending rates being charged…
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Monetary Policy Committee begins 98th meeting to assess economy
The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) is scheduled to begin its regular meetings from today, Tuesday, January 26, 2021, through to Friday, 29th January 2021. The 98th meeting of the Monetary Policy Committee is to review developments in the economy and take the necessary steps to ensure financial and economic…
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Bank of Ghana maintains policy rate for 3rd consecutive time 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 and July of this year. This makes it the third consecutive time the policy rate has being maintained in 2020. The rate is of keen interest to businesses, as it signals the…
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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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Primary reserve requirement reduced to 6% to provide liquidity to SDIs
The Bank of Ghana has reduced the Primary Reserve Requirement for savings and loans companies, finance house companies, and rural and community banks from 8 percent to 6 percent, as well as the 10 percent primary reserve ratio for micro finance companies to 8 percent. This is part of measures to further provide economic relief…
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Bank of Ghana keeps policy rate at 14.5 percent amid COVID-19
The Monetary Policy Committee (MPC) of the Bank of Ghana, has maintained the policy rate at 14.5 percent. This is the first time the rate has been kept unchanged after it was reduced by 150 basis points early this year. The MPC, at the time said the decision was among other things influenced by the…