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
As the Monitory Policy Committee of the central bank meets today, expectations of a policy rate cut are high, as the IMF programme appears to have impelled a modicum of prudence in macroeconomic management, with inflation and the cedi sliding less than it was feared when the year begun. The MPC will either maintain the … 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
Over the past six years, banks have increased their appetite for funds from overnight lending and placements which they source under repurchase agreements (REPOS) as an alternative but less costly way to manage their cash reserve ratios (CRRs). Between 2010 and September this year, the face value of transactions executed under REPOS rose by 366.1 … Read more
Some bankers have warned any move by Government to cap interest rates in Ghana will end in a disaster. Banking consultant and Principal Consultant at Osei Tutu II Centre for Executive Education & Research Nana Otuo Acheampong told host of Business Today, Vivian Kai Lokko that ‘It will be a disaster if we decide to … 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 Finance Minister, Mr Seth Terkper, has defended the government’s decision to raise a GH¢438-million bond at a rate of 19 per cent, explaining that interest on the 10-year loan is the second lowest in the history of such borrowings. Apart from 2011, when stable macroeconomic conditions forced interest on a similar bond to drop … Read more
The President of Ghana John Dramani Mahama has hinted of moves to consider capping interest rates in the country. According to the President the high cost of doing business complained about by businesses is as a result of high interest rates being charged by commercial banks and other financial institutions in the country. The President … Read more
Donald Trump’s promises to unleash massive infrastructure spending and gigantic tax cuts seem to be spooking the bond market. Lost in the post-election stock market euphoria is the fact that the bond market has suffered a dramatic wave of selling that is rare in recent history. It’s sent interest rates on U. S. bonds spiking, … 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
The Chief Investment Strategist of Standard Chartered Bank Group, Steve Brice, has backed government’s recent decision to turn to the domestic capital market to raise capital by issuing its debut dollar-denominated bond considering it as a necessary move that will not harm the economy. The position of the Standard Chartered boss contrast with that of … Read more
The figure represents a 1.4 percent reduction from the 17.2 percent recorded in September this year. This is higher compared to the monthly change rate for September which was 0.2 percent. According to figures released by the Ghana Statistical Service, inflation for the food and non-alcoholic beverages reached 8.7 percent. The figure is 0.3 percentage … Read more
The Ministry of Finance (MoF) has assured Parliament of the Electricity Company of Ghana’s (ECG) capacity to repay the on-lend loan of US$ 60 million which is meant for the phase II of the Ghana Energy Development and Access Project (GEDAP). Parliament last week approved a loan agreement between the Government of Ghana and the … Read more
The Ministry of Finance (MoF) has assured Parliament of the Electricity Company of Ghana’s (ECG) capacity to repay the on-lend loan of US$ 60 million which is meant for the phase II of the Ghana Energy Development and Access Project (GEDAP). Parliament last week approved a loan agreement between the Government of Ghana and the … Read more
Ever heard of the currency Pula? Well it’s one of the best performing and valuable currencies in Africa from the SADC of the south of Africa. What makes an economy robust that is stable and reliable to operate a business and others frail, not being reliable and unstable? Well the ordinary man on the street … Read more
The activities of speculators which cause the cedi to depreciate against some major trading currencies may have minimal impact on the currency as the elections approach. This is the position of some currency analysts. The comments come on the back of concerns among some industry watchers of possible distortions to the cedi’s performance ahead of … 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
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
The left is undertaking an amazing back door plan to dramatically increase its influence over the Fed’s interest-rate-setting Open Market Committee. The key activist group, a division of the Center for Popular Democracy, is working to kick the bankers off the boards of directors of the district Federal Reserve banks. Those boards choose the presidents … Read more