Tag: monetary policy rate
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MPR must be maintained due to slowdown in inflation curve – Economist proposes
Economist with GCB Capital Limited, Courage Boti has suggested that the Monetary Policy Committee should maintain the current monetary policy rate despite calls by other stakeholders to increase it to stem inflation. Although the country’s inflation rate increased to 29.8 percent in June, the 2.2 percentage point gap compared to what was recorded the previous…
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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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IEA proposes increase in Monetary Policy Rate by 100 to 150 basis points
The Institute of Economic Affairs (IEA) is asking the Monetary Policy Committee of the Bank of Ghana to increase the monetary policy rate by another 100 to 150 basis points to 20 or 20.5 percent. This is ahead of the Central Bank’s MPC press conference on Monday, July 25 which might see the review of…
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Gulf central banks, Bank of England raise policy rates after Fed hike
The central banks of five Persian Gulf states raised policy rates on June 15 following the Federal Reserve’s 75 basis point hike the same day. The central banks of the United Arab Emirates, Qatar and Bahrain made 75bp increases to their reference rates. This brings the UAE’s rate to 3%, Qatar’s to 2.25% and Bahrain’s…
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Monetary Policy Rate increased again by 200 basis points; now at 19%
The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has increased the policy rate by 200 basis points to 19 %. This is the second time in 12 months that the Central Bank has increased the key rate by 200 basis points or more. The rate, which is of keen interest to businesses,…
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Policy rate likely to be increased to tame inflation – Databank CEO
The Monetary Policy Committee (MPC) of the Bank of Ghana will from today Wednesday, 18th May 2022 to Friday, 20th May 2022 hold its 106th Regular Meetings to review developments in the economy. The MPC’s regular meetings over the next three days will conclude with an announcement of a decision to either maintain, reduce or…
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New MPR might aid in attracting investment for Ghana – Economist
Economist with Databank, Courage Boti, believes the revision in the monetary policy rate has the potential of attracting foreign investment into Ghana. This comes on the back of the recent increase in the policy rate by 250 basis points to 17 percent. According to him, this new development might mean more attractive interest rates for…
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Increase in policy rate will make fixed income market more attractive – Economist
Following the recent hike in the policy rate, investors on the equity market are expected to re-adjust their portfolio holdings on the domestic stock market, to reap an increase from fixed income securities. This is according to Economist with Databank, Courage Martey. The Monetary Policy Committee of the Bank of Ghana, since November 2021, maintained…
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Bank of Ghana increases policy rate to 17%
The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has increased the policy rate by 250 basis points to 17 percent. This is the first time the Central Bank has increased the key rate since November of last year. The rate, which is of keen interest to businesses, signals the rate at which…
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Bank of Ghana maintains policy rate at 14.5%
The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has maintained the policy rate at 14.5% percent. This is the second time the Central Bank has maintained the rate after increasing it by 100 basis points in November 2021. The rate, which is of keen interest to businesses, does not only signal the…