BoG keeps policy rate unchanged at 29.5%; cost of loans to remain high

May 23, 2023 The Monetary Policy Committee (MPC) of the Bank of Ghana has kept its policy rate unchanged at 29.5%. It cited a slowdown in inflation as the main reason to the unchanged rate, which is the...

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May 23, 2023 / Comments (0)

BoG to continue with policy rate hikes to fast track inflation decline

May 10, 2023 The Bank of Ghana (BoG) has indicated that it may hike again the monetary policy rate to help bring inflation down faster. The Central Bank argued that “the current inflation rate remains...

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May 10, 2023 / Comments (0)

EIU forecasts 31.5% policy rate in 2023; Cost of loans to worsen

May 2, 2023 Cost of loans will worsen as the Economist Intelligence Unit is forecasting a 31.5% policy rate by the Bank by at the end of the year. This will subsequently increase the cost of living and...

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May 2, 2023 / Comments (0)

BoG to keep policy rate steady at 30.5% in 2024 – Fitch Solutions

April 4, 2023 Fitch Solutions has indicated that the Bank of Ghana will keep the policy rate on hold at 30.5% in 2024. This is coming after the Central Bank adjusted its key lending rate to banks at...

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April 4, 2023 / Comments (0)

BoG increases policy rate to 29.5%; loans to remain expensive

March 27, 2023 The Bank of Ghana has increased its policy rate by 150 basis points to 29.5% to help check the high inflation and any downside risks to the economy. This means the cost of credit will...

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March 27, 2023 / Comments (0)

Policy rate increases to 28%; cost of loans to surge

January 30, 2023 The Monetary Policy Rate of the Bank of Ghana has increased its policy rate – the rate at which it lends to commercial banks – by 100 basis points to 28%. Within a year, the rate has...

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January 30, 2023 / Comments (0)

Policy rate to go up again – Bloomberg

January 20, 2023 The policy rate of the Bank of Ghana is likely to go up for the 7th time since November 2021. According to Bloomberg, the higher-than-expected jump in inflation in the last two months of...

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January 20, 2023 / Comments (0)

Policy rate hits 27%; loans to become more expensive

November 29, 2022 The Bank of Ghana has increased its policy rate by 2.5 percentage points to 27%, citing risks to inflation and exchange rate concerns as reasons. This means cost of borrowing is expected to...

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November 29, 2022 / Comments (0)

IEA forecasts 2% increase in policy rate to 26.5%

November 25, 2022 The Institute of Economic Affairs is forecasting an increase in the Policy Rate (PR) by 200 basis points to 26.5% when the Governor of the Bank of Ghana announced developments in the...

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November 25, 2022 / Comments (0)

BoG to continue policy rate hiking cycle as part of IMF condition – Fitch Solutions

November 21, 2022 The Bank of Ghana will continue its policy rate hiking cycle, increasing the benchmark interest rate to 27% by the end of 2023. According to international research institution, Fitch...

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November 21, 2022 / Comments (0)