policy rate
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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)

BoG raises policy rate to 19%

May 26, 2022 The Monetary Policy Committee of the Bank of Ghana has raised the policy rate by 200 basis points to 19 percent. At a press briefing, the central bank said: “In sum, the Committee...

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May 26, 2022 / Comments (0)

Bank of Ghana raises policy rate to 14.5%

November 23, 2021 The Bank of Ghana (BoG) has increased its policy rate from 13.5 percent to 14.5 percent, six months after cutting the benchmark rate. The bank said today that the increment was necessary to...

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November 23, 2021 / Comments (0)

BoG maintains policy rate at 13.5% for third time

September 28, 2021 The Monetary Policy Committee of the Bank of Ghana (BoG) has maintained the policy rate at 13.5%. The policy rate is the rate at which the Central Bank lends to commercial banks in the...

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September 28, 2021 / Comments (0)

BoG keeps policy rate over increasing debt stock, inflation

July 27, 2021 The Monetary Policy Committee (MPC) of the Central Bank has maintained the policy rate at 13.5 percent, as concerns over rising debt stock and heightened risk to inflation keep dominating...

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July 27, 2021 / Comments (0)