Tag: Monetary Policy Committee
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Reduce policy rate to inject liquidity into financial sector – Economist to BoG
As the Monetary Policy Committee (MPC) of the Bank of Ghana prepares to announce its policy rate decision today, Friday, May 14, an Economist, Dr. Lord Mensah, is optimistic the Committee will further reduce the policy rate to mitigate the impact of the COVID-19 pandemic on businesses and individuals. He explains that reducing the policy…
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Bank of Ghana maintains policy rate at 16 percent for record sixth time
The Monetary Policy Committee of the Bank of Ghana has voted to maintain the policy rate unchanged at 16 percent for the sixth consecutive time. This impacts on the interest people pay on their loans, as it determines the rate at which the Central Bank lends to commercial banks in the country. The Chairman of…
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Reduce policy rate to improve liquidity in the system – Dr. Lord Mensah
Financial Economist and Senior Lecturer at the University of Ghana Business School, Dr. Lord Mensah, says it will be prudent for the Bank of Ghana to reduce the monetary policy rate from the current 16 percent, to improve the liquidity situation in the country. The policy rate, which determines the rate at which commercial banks…
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Economist predicts Bank of Ghana will maintain policy rate at 16 percent
Economist, Prof. Eric Osei Assibey, says he is anticipating that the Monetary Policy Committee of the Bank of Ghana will keep its policy rate unchanged at 16 percent. The MPC is expected to conclude its first meeting for this year on Thursday January 30, with an announcement of its policy rate on Friday, which determines…
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Barclays Ghana Managing Director optimistic about outlook of economy
The slowdown in inflation in the last month of 2019 and the relative stability of the local currency in the first month of 2020, gives the Monetary Policy Committee of the Bank of Ghana room to reduce its interest rate, the Managing Director of Barclays Ghana, Abena Osei-Poku has said. The policy rate, which indicates…
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EIU predicts reduction in policy rate this year
Individuals and businesses seeking credit from commercial banks this year should be offered some respite as the Economist Intelligence Unit is predicting that the Bank of Ghana will lower its lending rate. The business intelligence advisory firm in its latest country report stated that the Bank of Ghana’s policy rate currently pegged at 16 percent…
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The financial sector reforms and the return of NAM1: A Citi Business News Review of 2019
This year has witnessed a number of interesting events and happenings that have in one way or the other shaped the local economy. These happenings have largely had an impact on the economies of individuals both positive and negative in some cases. The year started on quite a sour note for Heritage and Premium banks.…
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Ghana’s economy remains vulnerable despite stability — Dr. Addison
The Governor of the Bank of Ghana, Dr. Ernest Addison has stated that despite the country’s recent macroeconomic stability, the economy remains fragile as non-resident investors continue to hold significant investment in local bonds. Addressing the press at the announcement of the monetary policy rate, the Governor said the actions of these non-resident investors could…
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Bank of Ghana maintains policy rate at 16 percent for 3rd time running
The Monetary Policy Committee of the Bank of Ghana has voted to maintain the policy rate at 16 percent for the third time running. The central bank’s decision, the Governor explained at a news conference, is due to the risk of inflation jumping beyond the bank’s 8-10 percent medium-term target. Although inflation reduced from 9.6…
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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…