• Home
  • News
  • Ghana: Monetary policy rate held steady at 30%

Ghana: Monetary policy rate held steady at 30%

The Bank of Ghana has maintained the monetary policy rate at 30 per cent after reviewing developments in the economy.

This means that the lending rate in the country will remain steady. It is the second time the Central Bank has held the rate in a year after doing the same in May 2023.

After the rate was hiked by 50 basis points in July due to inflationary pressures, the market turned towards policy rate retention on the back of the ease in inflation for the month of August.

Governor of the Bank of Ghana, Dr. Ernest Addison, while addressing the 114th Monetary Policy Committee meeting said the decision by the Central Bank to stay the policy rate is to quicken the path of disinflation on the back of underlying global pressure.

Related Posts

Nigeria: Leadway partners Octamile  to launch “PayCover” for motor insurance

Leadway Assurance has teamed up with Octamile to introduce the “PayCover” solution, enabling customers to divide their motor…

Ghana: Access Bank Collaborates Ghana Education Service for ‘A Sandal More’

In a gesture of collaboration and commitment to improving the lives of pupils across Ghana, Access Bank has…

Nigeria: First Bank announces appointment of Olusegun Alebiosu as managing director

First Bank of Nigeria Limited, the commercial banking arm of the financial services group, has announced the appointment…

Sanlam Acquires 60% Stake in MultiChoice’s Insurance Business

Sanlam Limited (Sanlam) and MultiChoice Group Limited (MultiChoice) has announced that they have entered into an agreement for…