Tag: monetary policy rate
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Monetary policy rate held steady at 30%
The Bank of Ghana has maintained the monetary policy rate at 30 per cent after reviewing developments in the economy. This means that the lending rate in the country will remain steady. It is the second time the Central Bank has held the rate in a year after doing the same in May 2023. After…
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Rising inflation forces monetary policy tightening; rate up by 0.5 to 30 percent
The Bank of Ghana (BoG) has tightened the monetary policy rate by 50 basis points, pushing it up to 30 percent. This was determined following the apex bank’s review of economic trends in the last two months. This means the cost of borrowing at banks has risen by 0.5 percent from the previous rate of…
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Bank of Ghana increases Monetary Policy rate to 29.5%
The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has increased the Monetary Policy Rate by 150 basis points to 29.5 percent. The prime rate, which is of keen interest to businesses, signals the rate at which the Central Bank will lend to commercial banks. It also subsequently influences average lending rates on…
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Policy Rate increased by 100 basis points; now at 28%
The Bank of Ghana has increased the Monetary Policy Rate by 100 basis points to 28 percent. This was announced after the Monetary Policy Committee of the Central Bank held its first meeting of the year to review developments in the economy. The prime rate, which is of keen interest to businesses, signals the rate…
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Bank of Ghana increases Monetary Policy Rate to 27%
The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has increased the Monetary Policy Rate by 250 basis points to 27 percent The prime rate, which is of keen interest to businesses, signals the rate at which the Central Bank will lend to commercial banks. It also subsequently influences average lending rates on…
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Bank of Ghana’s MPC meets over economy today
The Monetary Policy Committee (MPC) of the Bank of Ghana will today [September 20, 2022] commence its annual meetings to review developments in the economy. The meeting will also come out with the Monetary Policy Rate which is of keen interest to businesses, as it determines the rate at which the Bank of Ghana lends…
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Prof. Mensah expectant of another increase of the MPR as inflation still soars
Financial Economist, Prof Lord Mensah is hopeful that the Bank of Ghana will increase the Monetary Policy Rate (MPR) again to boost investor confidence in the country. His call comes ahead of the announcement of a new or maintained policy rate on September 27. The Bank of Ghana in an emergency meeting last month hiked…
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Cost of credit to further go up as Bank of Ghana raises policy rate to 22%
The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has increased the policy rate by 300 basis points to 22%. The increase in the key rate follows an emergency Monetary Policy Committee (MPC) meeting held by the Central Bank on August 17, 2022. It also comes at a time when the country is…
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BoG increases Monetary Policy Rate to 22% after crunch meeting
The Bank of Ghana has raised the Monetary Policy Rate by 300 basis points from 19 percent to 22 percent. The last change in the policy rate was in May 2022 and was maintained in July 2022. This development follows a Monetary Policy Committee meeting earlier on Wednesday because of Ghana’s recent economic challenges. The…
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Bank of Ghana maintains policy rate at 19%
In its quest to ensure macroeconomic stability, the Monetary Policy Committee of the Bank of Ghana has maintained the policy rate at 19 percent. This is the first time the Central Bank has maintained the policy rate this year, after increasing it twice by 200 basis points or more. The rate, which is of keen…