{"id":775253,"date":"2020-01-02T11:48:20","date_gmt":"2020-01-02T11:48:20","guid":{"rendered":"https:\/\/ghana-mma.com\/2020\/01\/02\/eiu-predicts-reduction-of-lending-rates-by-bank-of-ghana\/"},"modified":"2020-01-02T11:48:20","modified_gmt":"2020-01-02T11:48:20","slug":"eiu-predicts-reduction-of-lending-rates-by-bank-of-ghana","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2019\/01\/02\/eiu-predicts-reduction-of-lending-rates-by-bank-of-ghana\/","title":{"rendered":"EIU predicts reduction of lending rates by Bank of Ghana"},"content":{"rendered":"

<\/p>\n

\n
\"\"<\/div>\n

The Economist Intelligence Unit (EIU) has predicted that the Bank of Ghana (BoG) will lower its lending rate this year.<\/p>\n

In
\n its latest country report, the business intelligence advisory projected
\n that the central bank\u2019s policy rate which presently stands at 16% may
\nbe reduced further as inflation has declined the more.<\/p>\n

This
\n should be a breath of fresh air to businesses and individuals seeking
\nloans from commercial banks this year since the last time there was a
\nreduction of the policy rate was in January 2019.<\/p>\n

In the report, the EIU said inflation is set to be moderate after being high throughout 2019.<\/p>\n

After which the committee has met 5 times and kept the rate unchanged as inflation remained volatile.<\/p>\n

Meanwhile,
\n the firm argues that given the slowdown in inflation, there will be
\ngrounds for BoG\u00a0to reduce its interest rate as it tries to support
\nlending to the private sector.<\/p>\n

Ghana\u2019s inflation currently stands
\nat 8.2% but the EIU predicts that the rate will largely remain unchanged
\n throughout the period.<\/p>\n

The Monetary Policy Committee in
\nits last meeting unveiled a number of measures it hopes to undertake in
\nto further reduce the high cost of lending.<\/p>\n

According to the central bank, data
\n presented to the Committee revealed that factors such as high operating
\n costs of banks stemming from operational inefficiencies among others,
\nwhen addressed would help lower lending rates.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The Economist Intelligence Unit (EIU) has predicted that the Bank of Ghana (BoG) will lower its lending rate this year. In its latest country report, the business intelligence advisory projected that the central bank\u2019s policy rate which presently stands at 16% may be reduced further as inflation has declined the more. This should be a […]<\/p>\n","protected":false},"author":1,"featured_media":775254,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-775253","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"\nEIU predicts reduction of lending rates by Bank of Ghana - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2019\/01\/02\/eiu-predicts-reduction-of-lending-rates-by-bank-of-ghana\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"EIU predicts reduction of lending rates by Bank of Ghana - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"The Economist Intelligence Unit (EIU) has predicted that the Bank of Ghana (BoG) will lower its lending rate this year. 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