Tag: policy rate
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BoG keeps policy rate at 20 percent
The Monetary Policy Committee (MPC) of the Bank of Ghana has maintained the policy rate at 20 percent. The decision was announced at the media briefing to conclude the MPC’s annual meetings on Monday, January 22, 2018. The MPC last year (2017), reduced the policy rate by 550 basis points. In 2017, the figure went…
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BoG announces policy rate today
The Governor of the Bank of Ghana, Dr. Ernest Addison is today [January 22, 2018] expected to announce the central bank’s policy rate for commercial banks for the next couple of months. It follows the completion of the Monetary Policy Committee (MPC’s) annual meetings to review the Ghanaian economy. Today’s announcement will be the first…
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BoG’s MPC meets over economy today
The Monetary Policy Committee (MPC) of the Bank of Ghana will today [January 19, 2018] commence its annual meetings to review the Ghanaian economy. This will be the first for this year and it will conclude with the announcement of a policy rate on Monday, January 22, 2018. For last year [2017] alone, the central…
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4 key highlights of BoG’s economic data [Article]
Bank of Ghana (BoG) just released its November 2017 economic and financial data. I found 4 key highlights from the BoG report. NPL increasing: Non-Performing Loans (NPL) are still increasing for Banks – September 2017 it was 22.2% and in October 2017, it was 21.6% compared to 19% in October 2016. Why is it increasing? We…
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BoG reduces policy rate again to 20%
The Bank of Ghana (BoG) has reduced the policy rate by 100 basis points from 21 percent to 20 percent. This was announced after the Monetary Policy Committee (MPC) finished its 79th meeting which is the final for 2017. This is the fourth reduction for this year by the Central Bank. By this, the policy…
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Industry targets a drop in BoG’s policy rate today
Businesses are seeking that the Bank of Ghana (BoG) will reduce its lending rate again as it announces a policy rate today, Monday, November 27, 2017. They believe that the development should trickle down on interest rates paid on loans they contract from their banks going forward. The expectations are ahead of the Monetary Policy…
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Lending rates to drop further – BoG
The Bank of Ghana (BoG) has assured the business community of its commitment to reduce its lending rates for commercial banks in the country. This is also expected to prompt a further drop in the lending rates of commercial banks to their customers. The Central bank is hopeful that the move will also reduce the…
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Mixed expectations meet BoG’s policy rate decision
There are mixed expectations ahead of the policy rate decision to be announced by the Bank of Ghana on Monday, September 25, 2017. The Monetary Policy Committee (MPC) of the central bank is set to announce a primary rate at which it will lend to commercial banks for onward lending to customers. Already, the rate…
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Banks anxious of interest rate cut
Bankers are anticipating a reduction in the policy rate as the Bank of Ghana’s Monetary Policy Committee (MPC) meets to review the strength of Ghana’s economy, Friday September 22, 2017. The meeting will be concluded on Monday September 25, 2017 with a decision on the policy rate for commercial banks to comply with. The MPC…
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BoG reduces policy rate by 150 basis points
The Bank of Ghana has reduced its policy rate to 21 percent. The figure represents a 150 basis points reduction from the 22.5 percent. This is the third consecutive time that the policy rate has been reduced by the central bank. Governor of the Bank of Ghana, Dr. Ernest Addison who announced the new rate…