The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has reduced the policy rate by 50 basis point to 25.5 percent after holding it at 26 percent for months. The policy rate, which is the rate at which the central bank lends money to commercial banks, before its reduction, had remained at 26 … Read more
There is growing expectation on the Bank of Ghana (BoG) to announce a reduction in the policy rate as the governor prepares to publish results of the Monetary Policy Committee meeting later this morning. The Policy Rate, which is the rate at which the central bank lends money to commercial banks, has remained at 26 … Read more
The Finance Minister, Mr Seth Terkper, expects the stability in the fiscal side of the economy to provide comfort to the Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) and possibly prompt the committee to consider easing its benchmark rate – the policy rate. After leaving the rate unchanged at 26 per cent … Read more
The business community, backed by some economists have intensified renewed calls for the central back to strongly consider cutting its policy rate to induce growth following the decline in inflation and stability in the cedi. The entreaty comes as the Monetary Policy Committee of the Bank of Ghana prepares to meet for the last time … Read more
The Monetary Policy Committee (MPC) of the Bank of Ghana will next week Monday, announce its policy rate for commercial banks in the country. The announcement will conclude the MPC’s 73rd regular meeting which starts this Friday, November 14. For the fourth consecutive time this year, the MPC kept the policy rate unchanged at 26 … Read more
One and five Ghana cedis notes. File photo. “Well, I do not think I will be able to go for the loan for us to undertake the project. The interest rate the financial institutions are quoting is too much and that will, without doubt, increase our cost of operation and hugely affect our profit margin”. … Read more
Mr Carney has been attacked for his warnings,made before the referendum on European Union membership Mr Carney took over as Governor in June 2013 for an eight years term, but with an option to leave after five years. On Saturday The Times reported that he was “more likely than not” to choose to return to … Read more
Some equalizations border on absurdity if not sheer stupidity. Anytime I hear Koku Anyidoho making unsavory comments and casting aspersion on serious and respectable men and women in this dear country of ours, my heart bleeds. Sometimes I ask myself whether indeed this guy comes from the Anyidoho family tree that I know very well. … Read more
Cost of borrowing is expected to go up in the coming months as some commercial banks are planning to adjust their lending rates upwards by about three per cent, Business Finder has leant. The banks, this paper gathered are worried about the rising inflation and the expected increase in Treasury bill rates. A bank executive … Read more
Attempts by the central bank to hem in inflation continue to yield less than satisfactory results, as a 0.3percent rise in September appears to confirm the Statistical Service’s suspicion that traders could be hiking prices ahead of the twin events of the December 7 polls and Christmas. Government Statistician, Philomena Nyarko, announced yesterday that year-on-year … Read more
President John Dramani Mahama erred in his claim that no Ghanaian knows the cost of the redenomination of the cedi in 2007, Abdul-Malik Kweku Baako, Editor-in-Chief of the New Crusading Guide, has said. According to him, the cost involved in the exercise was announced by then Bank of Ghana Governor Paul Acquah at the central … Read more
Barely two months after parliament passed the Bank of Ghana (BoG) Amendment Bill, the International Monetary Fund (IMF) has punched holes into the Act and is demanding fresh amendments to introduce a number of new provisions. It said the provision allowing central bank financing of up to five percent of previous years’ revenue, as well … Read more
Ghana’s headline inflation is likely to slow further downwards raising prospects of a series of interest rate cuts as the government moves to spur growth. The country’s headline inflation rose to 16.9 per cent in August, having dropped from 19.2 per cent since March, prompting calls for the Bank of Ghana to ease Monetary Policy … Read more
Banks have admitted their inability to take the entire US$1.8 cocoa loan at once, an admission that supports moves by the central bank to delay direct transfers of the loan into the banking sector until the sector develops enough capacity and depth to take up that injection of foreign exchange. The capacity involves the deepening … Read more
Availability and ease of access to credit remains a huge challenge for the private sector. Latest data from the Bank of Ghana suggests a general credit squeeze to the private sector in 2016, amidst a chequered month-on-month growth when compared to the numbers recorded in the same period the previous year. The data indicate that … Read more
Governor of the Bank of Ghana (BoG), Abdul Nashiru Issahaku, has corroborated government’s claim that the economy is turning around. Addressing the media after chairing the Monetary Policy Committee meeting last week that reviewed the health of the economy, Dr Issahaku said given previous challenges current developments would pass for a significant turnaround. “If you look … Read more
The Monetary Policy Committee (MPC) of the central bank has said it is undisturbed by perceived inflationary pressures which the Statistical Service said could result from traders hiking prices ahead of the December polls. “We haven’t seen any indication that the election is a real concern. Our surveys and even consumers tell us the economy … Read more
The chairman of the Monetary Policy Committee of the Bank of Ghana (BoG), Dr. Abdul-Nashiru Issahaku, has expressed worry over the current level of inflation, warning that it is still high compared to the medium term target. Speaking Monday after concluding the Central Bank’s 72nd regular MPC meetings, he said per the assessment of the … Read more
The Monetary Policy Committee of the Bank of Ghana has once again maintained its policy rate at 26 percent. This was arrived at the 72nd meeting of the committee after monitoring development of the economy. The rate was last increased in November 2015 during its 67th meeting. In a statement issued by the Bank of … Read more
The Monetary Policy Committee (MPC) of the Bank of Ghana is expected to announce a new policy rate today, Monday September 19. It comes after a meeting on Friday September 16 by the MPC on the health of the Ghanaian economy. In July, the central bank maintained the rate at 26 per cent saying the … Read more