Despite government’s intention to pursue a pro business economic agenda in its fiscal policies, some financial observers are skeptical the managers of the monetary policy will respond by reducing the Policy Rate in its next meeting. Earlier views gathered by Citi Business News from players in the financial sector pointed out that the central bank … Read more
Despite government’s intention to pursue a pro business economic agenda in its fiscal policies, some financial observers are skeptical the managers of the monetary policy will respond by reducing the Policy Rate in its next meeting. Earlier views gathered by Citi Business News from players in the financial sector pointed out that the central bank … Read more
The Monetary Policy Committee (MPC) of the Bank of Ghana maintained its prime rate despite a potential drop forecast by economists. The policy rate which stood at 25.5 percent in November last year after a 50bps reduction, remains same for January 2017. The stationarity of the rate was accorded to government’s inability to meet the … Read more
The Bank of Ghana (BoG) has retained its policy rate at 25.5%. This is due to the fact that the Central Bank views the “risks to inflation and growth as balanced” its governor, Dr. Abdul-Nashiru Issahaku said Monday at a press briefing. He said inflation continues to ease, closing the year at 15.4% from 15.8% in … Read more
Non-performing loans are set to reduce further downwards The Central Bank is optimistic non-performing loans will witness some significant decline in the next few months. Latest figure from the Bank reveals non-performing loans have reduced marginally from 19 to 17 percent as at November last year. The Governor of the Bank of Ghana has attributed … Read more
The Bank of Ghana (BoG) has retained its policy rate at 25.5%. This is due to the fact that the Central Bank views the “risks to inflation and growth as balanced” its governor, Dr. Abdul-Nashiru Issahaku said Monday at a press briefing. He said inflation continues to ease, closing the year at 15.4% from 15.8% … Read more
The Bank of Ghana (BoG) has retained its policy rate at 25.5%. This is due to the fact that the Central Bank views the “risks to inflation and growth as balanced” its governor, Dr. Abdul-Nashiru Issahaku said Monday at a press briefing. He said inflation continues to ease, closing the year at 15.4% from 15.8% in … Read more
The Monetary Policy Committee of the Bank of Ghana (BoG) has maintained the policy rate for the first time this year at 25.5 percent. The policy rate, which is the rate at which the central bank lends money to commercial banks was last reduced in November 2016 from 26 percent by 50 basis point to … Read more
There are high expectations the Monetary Policy Committee of the Bank of Ghana will maintain its policy rate at 25.5 percent today. The Policy rate is indicative of the rate at which the Central Bank lends to commercial banks. The committee has since Friday been meeting to review development in the economy. The Bank is … Read more
The Bank of Ghana’s (BoG) Macroeconomic and Financial Data report revealed that the country’s debt stock has reached GHC120 billion as at November 2016. This was contained in the summary of released by the Central Bank at the end of the Monetary Policy Committee meeting on Friday 20 January 2017. The new figures show that … Read more
The Monetary Policy Committee (MPC) of the central bank is set to review the Monetary Policy Rate (MPR) on Friday January 20, 2017, with the prime objective of ensuring price stability and low inflation to curtail the depreciation of the cedi and support output and employment growth. The MPR was pegged at 26 per cent … Read more
Economists have ruled out any significant impact of the change in government on the operations of the Monetary Policy Committee of the Bank of Ghana. It follows the commencement of the MPC’s first regular meeting for 2017 on Monday January 16, 2017. Per the regulations governing the Central Bank, the Governor of the central bank … Read more
The Bank of England has voted unanimously to keep the UK’s main interest rate at a record low of 0.25%. It said that the next rate move could be in either direction. The last change was a rate cut in August, in the wake of the UK’s vote to leave the EU. The Bank said … Read more
Without exception, all the major international ratings agencies have predicted a budget deficit overrun in 2016, a projection that has a strong likelihood of occurring given official data showing the budget gap had already been breached in the first nine months of the year. In its final Monetary Policy Committee press report for 2016, the … Read more
The start of the week saw the Monetary Policy Committee (MPC) of the Bank of Ghana announcing a reduction in the policy rate by 50 basis points to 25.5 per cent. Previously, the rate had held at 26 per cent, as the preceding MPC meetings felt, after deliberations, that to strap the risk of inflation … Read more
Some financial analysts are anticipating that the Bank of Ghana (BoG) will sustain the decision to reduce further, its policy rate to ease access to credit to businesses. According to them, commercial banks will respond to calls for lower interest rates if the primary reference which is the policy rate, drops. “It is in the … Read more
Ghana’s total public debt stock, which stood at GH¢110 billion at the end of August, increased to GH¢112.4 billion at the end of September 2016, representing 67.4 percent of Gross Domestic Product (GDP). Per the aforementioned figures, the country incurred a debt of over GH¢2 billion from August to September 2016. Out of the total … Read more
Economist, Dr. Lord Mensah has ruled out an immediate reaction from commercial banks following the reduction of the policy rate. Though he has lauded the Bank of Ghana (BoG)’s decision to reduce the rate, he describes the figure as marginal. According to Dr. Lord Mensah, businesses must therefore be guarded in their expectations of a … Read more
Economist, Dr. Lord Mensah has ruled out an immediate reaction from commercial banks following the reduction of the policy rate. Though he has lauded the Bank of Ghana (BoG)’s decision to reduce the rate, he describes the figure as marginal. According to Dr. Lord Mensah, businesses must therefore be guarded in their expectations of a … Read more
The Monetary Policy Committee of the Bank of Ghana (BoG) on Monday reduced the policy rate to 25.5 percent from 26 percent. Even though commercial banks were praying for 100 basis points reduction, the 73rd regular MPC meetings reduced it by 50 basis points. Dr. Abdul Nashiru Isahaku, Governor of the Bank of Ghana, told … Read more