Bank of Ghana reduces Policy Rate to 16%

The Bank of Ghana on Monday reduced the policy rate to 16 per cent representing a 100 basis points. In March, 2018, the Bank reduced its rate by 200 basis points from 20 per cent to 18 per cent. The Monetary Policy Committee noted that the immediate risks to the disinflation path were well contained and the current conditions provided scope to translate some of the gains in the marco stability to the economy. Dr Ernest Addison, the Governor of the Bank of Ghana stated at a press conference after…

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FULL List: 16 Banks meet Capital DEADLINE; 6 seek support, 2 merging, 1 Takeover and 3 ‘condemned’

After the deadline for capitalization for the Banks elapsed, the Bank of Ghana has filed a report on the state of the banks as at 31st December 2018. Only 16 banks have met the minimum capital requirements, 6 banks are seeking support, 2 are merging, 1 takeover and 3 “dead news”. The facts were first obtained by Graphic.com.gh. It will be recalled that the indigenous banks appealed for an extension of the deadline to meeting the minimum capital requirement. They petitioned the President over the matter seeking that the date…

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