Tag Archives: RATE

The Bank of Ghana (BoG) has maintained the policy rate at 19%. Addressing the media on Monday, July 25, 2022, after the Monetary Policy Meeting, the Governor, Ernest Addison disclosed that one of the reasons for maintaining the rate among other things has to do with how inflation has persisted …

Amid rising interest rates on the money market, Chief Executive Officer of Letshego Ghana, Arnold Parker, has revealed that interest rates on Qwikloans will increase in the coming weeks. Qwikloan, an innovative financial solution by Letshego Ghana and MTN Mobile Money (MoMo), provides short-term, unsecured, quick and convenient loans to …

EU sanctions on Russian banks are exacerbating Africa’s growing food crisis by making it difficult to pay for wheat exports, according to African Union chair and Senegal President Macky Sall. He told EU leaders that the worst is still ahead if global food supply issues persist. The food crisis has …

The Bank of Ghana Monetary Policy Committee has reviewed the policy rate by 200 basis points from 17 percent to 19 percent. Governor of the central bank, Dr. Ernest Addison speaking at a press conference on Monday May 23 explained the move is meant to stem inflation which has been surging in recent …

Q Finance Minister Ken Ofori-Atta has said a number of African countries are facing economic challenges. The minister was speaking at a press conference held in Accra on Thursday, 12 May 2022. According to Mr Ofori-Atta, 41 African countries have been hit by a severe food crisis, as well as fuel …

The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has increased the policy rate by 250 basis points from 14.5% to 17%. This comes after the Committee of the Bank of Ghana, held its 105th meeting from Wednesday, March 16, to Friday, March 18, 2022, to review economic developments of the …

Assin Central Member of Parliament, Kennedy Agyapong has revealed that despite being in charge of several businesses, he does not take bank loans. According to him, the sole reason for that posture is because of the ridiculous nature of interest rates charged by the banks. Addressing students of the University …

The ongoing geopolitical tension between Russia and Ukraine will not have much impact on Ghana’s petroleum products, a former Chief Executive Officer of the Ghana National Petroleum Corporation (GNPC), Mr Alex Mould, has said. Therefore, he said, there should be no panic at all among stakeholders. Instead, Mr Mould asked …

The national year-on-year inflation rate was 13.9% in January 2022, which is 1.3 percentage points higher than the 12.6% recorded in December 2021. The Month-on-month inflation between December 2021 and January 2022 was 2.1% . Two Divisions (Housing, Water, Electricity, Gas and Other Fuels, and Transport) recorded inflation rates above …

The Government is taking steps to review road traffic regulations in the country, Mr Kwaku Ofori Asiamah, the Minister of Transport, has said. “We have commenced a process to review the Road Traffic Act, 2004 (Act 683), and the Road Traffic Regulations, 2012 L.I.2180, to keep up with the changing …