Tag: monetary policy rate
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Businesses react to BoG’s decision to maintain policy rate at 14.5%
In the wake of the COVID-19 pandemic and its impact, Ghanaian businesses had been looking forward to a further reduction in the policy rate by the Bank of Ghana. The policy rate, which is the rate at which the central bank lends to commercial banks, and is also used by banks to calculate their base…
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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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Industry upbeat about a drop in policy rate
Industry players are upbeat about a possible reduction in the policy rate to be announced by the Bank of Ghana later today. Their hopes are largely built on the declining inflation as well as drop in interest rates on the Treasury bill market. Already, some Economists say the pro-business agenda of the NPP government should…