Average lending rate hits 32.69% – BoG
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 News
Transition: Mahama urges members to show modesty
13:38Military warns public against attacking personnel on authorised duties
08:05GCPP congratulates Mahama on election victory
09:25Prof Jane Naana Opoku-Agyemang: A historic step toward gender equality in Ghanaian politics
13:10#2024Polls: NDC has exceeded its parliamentary target in GA/R – Ashie Moore
12:32#2024Polls: One dead, another injured in Nyankpala shooting incident
11:57CPP former scribe endorses Mahama for president
10:41Police unveil traffic plan for NPP, NDC mega rallies in Accra
03:53CSOs commend IGP’s effort to maintain peace and order during post-election
06:57#2024Polls: NDC snatches Ablekuma North from NPP
17:16