Bank of Ghana increases policy rate

Source: Ghana |
Date: 06-02-2014 Time: 04:02:28:pm

The rate at which commercial banks borrow from the Bank of Ghana has gone up by 200 basis points, as the central bank increased police rate from 16 to 18 percent.

This is the latest adjustment by the Bank of Ghana after two days of deliberations by the Monetary Policy Committee (MPC).

The MPC has been meeting to discuss the health of the economy; top on the agenda is the depreciation of the cedi against the major trading currencies.

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