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The Agricultural Development Bank and at least two others have announced cuts in their base rates with effect from August in response to the recent reduction in the policy rate of the Bank of Ghana.
Whilst the Trust Bank is reducing its rate to 25 percent from 26.5, Standard Chartered Bank’s base rate is down to 24 from 25.5, all from 1st August.
One of the sharpest declines however is by the Agricultural Development Bank.
Its base rate effective, 2nd August is 21.95 percent from 24.75. It beats Ghana Commercial Bank’s current base rate of 22.75.
Meanwhile UBA is also down to 25 percent from 27.
Source: Joy Business/Myjoyoonline.com/Ghana
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