Tag: policy rate
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BoG maintains policy rate at 16 percent to achieve end-of-year inflation target
Cost of borrowing may not go down at least before the year ends as the Monetary Policy Committee (MPC) of the Bank of Ghana has maintained the policy rate at 16 percent. This was announced after the final meeting of the committee for 2019. The policy rate is the rate at which commercial banks borrow…
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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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Policy rate: Be measured with expectations of drop in interest rates – Prof. Quartey
Economist with the Institute of Statistical, Social and Economic Research (ISSER), Professor Peter Quartey, has maintained that business may have to be measured with their expectation of a drop in interest rates despite the central bank’s decision to keep the policy rate unchanged at 16 percent. The Monetary Policy Committee (MPC) at the end of…
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Businesses, bankers push for drop in BoG’s policy rate
The Monetary Policy Committee (MPC) of the Bank of Ghana may take any decision but increase its policy rate for banks. These are the indications from businesses and banks ahead of the announcement of the policy rate later on Monday [September 24, 2018]. The MPC has since the beginning of the year reduced its policy…
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BoG committee assesses Ghana’s economy from today
The Monetary Policy Committee (MPC) of the Bank of Ghana will today (Wednesday) start its quarterly meetings to review the health of the economy. The committee will also assess the impact of major economic policies introduced by the central bank to stabilize the economy. On top of the agenda are likely to be the depreciation…
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BoG likely to reduce policy rate again – Razia Khan
A Senior Economist with Standard Chartered Bank, Razia Khan is projecting that the Bank of Ghana may reduce the policy rate today, May 21, 2018. The Monetary Policy Committee (MPC) of the central bank is expected to announce a policy rate today after concluding its review on the economy. The MPC, at its last meeting…
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BoG’s MPC concludes assessment of economy today
The Monetary Policy Committee (MPC) of the Bank of Ghana will Friday, May 18, 2018, conclude its meetings on assessing the economy. The committee is expected to provide its verdict on the economy and announce a new policy rate on Monday, May 21st, 2018. At the last MPC meeting in March, the policy rate was…
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Mixed reactions meet BoG’s cut in policy rate
There are mixed reactions to the Bank of Ghana’s new policy rate of 18%. The central bank on Monday, March 26, 2018 announced that it has reduced the policy rate by 200 basis points after concluding its Monetary Policy Committee (MPC) meetings for the quarter. The Governor of the Bank of Ghana, Dr. Ernest Addison…
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BoG reduces policy rate to 18%
The Bank of Ghana has reduced the policy rate to 18 percent. This represents a 200 basis points reduction in the policy rate which was at 20 percent. Today’s announcement of a reduction is the first after the rate was maintained earlier in the year. The policy rate is the rate at which the central…
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Bankers, businesses urge BoG to reduce policy rate
Banking industry players are anticipating nothing but a reduction in the policy rate by the Bank of Ghana. It follows what they cite as favourable conditions that warrant a further reduction in the rate at which the central bank lends to commercial banks for onward lending to customers. The Monetary Policy Committee (MPC) of the…