Average lending rate hits 32.69% – BoG
Business
In February 2023, the average lending rate was 36.64%, decreasing to 35.87% in March
In October 2023, the average lending rate in Ghana surged to 32.69%, equivalent to an average monthly rate of 2.724%, according to data from the Bank of Ghana.
The rate had previously declined from March to May 2023, remaining within the 31% range until September 2023.
In February 2023, the average lending rate was 36.64%, decreasing to 35.87% in March.
It experienced a sharp fall to 31.66% in April and 30.94% in May, with a slight increase to 31.5% in June.
The Ghana Reference Rate stood at 31.09% in October 2023.
The Monetary Policy Committee is expected to announce key decisions on November 27, 2023.
Source: classfmonline.com
Trending Business
Rektron Group moves to acquire 60% stake in Airtel-Tigo
09:00
NSA board inspects Ejura Farm as part of nationwide agricultural project tour
08:51
Commercial Transport Operators to gov't: Fulfil promise to reduce spare parts prices else 'the situation will escalate'
18:23
Ghana Gold Board CEO outlines bold reforms at maiden mining and minerals convention
17:22
Evalue-Ajomoro-Gwira MP urges fast-track of Petroleum Hub Project after Asia tour
11:52
GIPC CEO engages traders at Kwame Nkrumah Circle’s Tip Toe Lane
02:16
GLICO Group pays tribute to late Asantehemaa with support and condolence visit
11:23
Mahama directs purchase of glut tomatoes and onions from Asante Akim North farmers for SHS feeding
11:11
MASLOC to publish names of loan defaulters after final warning
10:34
Brazilian Ambassador pledges support for Ghana’s cocoa sector ahead of Afro-Brazil Festival 2025
08:07
