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The Bank of Ghana has maintained the monetary policy rate at 14.5%. This is the second time the Bank of Ghana has decided to keep its lending rate to commercial banks in the country. In a press release dated 31st January 2022, the BoG further stated the spillover of …
Read More »World Bank revises Ghana’s growth rate to 4.9% for 2021
The World Bank has revised Ghana’s growth to 4.9 percent for 2021, from the earlier forecast of 1.4 percent of Gross Domestic Product, its latest October 2021 Africa Pulse report has indicated. It is also forecasting a 5.5 percent expansion in the economy in 2022, reflecting strong growth in exports. …
Read More »Bank lending rates falling – Report
Even though the Bank of Ghana has announced that it is maintaining its benchmark Monetary Policy Rate at 14.5 percent for the next two months, borrowers are benefitting from the fact that interest rates continue to fall in Ghana despite government’s unprecedented demand for fiscal deficit financing. Ultimately monetary easing by the …
Read More »BoG keeps policy rate at 14.5%
The policy rate will remain at 14.5 per cent, Governor of the Bank of Ghana (BoG), Dr Ernest Addison, has revealed. Also, estimated growth in 2020 will be between 2 and 25 per cent. This follows a decision taken to that effect by the Monetary Policy Committee. Dr Addison made …
Read More »High interest rates collapsing Ghanaian businesses – Kennedy Agyapong
Kennedy Ohene Agyapong says the incumbent NPP administration should take a second look at interest rates in the country because some indigenous businesses are collapsing as a result of high interest rates. To the Assin Central legislator, this is a clear indictment on a government which aims at creating more …
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