Tag: policy rate
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GCB Capital projects retention of 30% policy rate till end of 2023
Ahead of the announcement of a new policy rate on Monday, financial actors are anticipating a stay in the figure. This they believe will further bolster the disinflation trajectory of the economy. It comes as the Monetary Policy Committee (MPC) of the Central Bank has initiated its routine meetings to assess the state of the…
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Monetary policy rate likely to be increased marginally – Economists predict
As the Bank of Bank of Ghana (BoG) prepares to make major pronouncements on its assessment of the Ghanaian economy today [May 22], some economists are forecasting a marginal increase in the policy rate. This comes amid calls from the International Monetary Fund (IMF) for the Bank of Ghana (BoG) to continue tightening monetary policy…
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BoG’s MPC commences assessment of economy today
The Monetary Policy Committee (MPC) of the Bank of Ghana will today commence its regular meetings to review developments in the economy. This meeting which is the 112th, will end with a press conference on Monday, 22nd May, 2023. The meeting will also end with a decision on the appropriate positioning of the Central Bank’s…
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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…
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Economist urges BoG to further reduce policy rate amid COVID-19 troubles
As the Monetary Policy Committee (MPC) of the Bank of Ghana starts its meetings from today, Monday May 11, 2020, an Economist, Dr. Lord Mensah, is urging the Committee to further reduce the policy rate to bring some more relief to businesses and individuals hit by the impact of the COVID-19 pandemic. He explains that…
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Reduced policy rate must reflect on banks’ lending rates – Businesses insist
Businesses that have been impacted by the COVID-19 pandemic in Ghana are urging the Bank of Ghana to ensure that commercial banks revise their lending rates to reflect the reduction in the policy rate. According to them, this will enable them bridge the shortfall in the supply of some goods in the wake of the…
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BoG cuts policy rate to 14.5% as it weighs economic impact of COVID-19
The Monetary Policy Committee (MPC) of the Bank of Ghana has reduced the policy rate to 14.5%. This is a 150 basis points reduction in the rate which had been kept unchanged at 16 percent for at least five consecutive times. The policy rate determines the rate at which the central bank lends to commercial…
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16 percent policy rate must reflect in cheaper credit – Chamber of Commerce
The Ghana National Chamber of Commerce and Industry is asking the Bank of Ghana to ensure that the decision to maintain the policy rate at 16 percent translates into lower interest on credit for businesses. The policy rate determines the rate at which the Central bank lends to commercial banks, and subsequently how much people…
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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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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…