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’s policy rate which presently stands at 16% may be reduced further as inflation has declined the more.
This should be a breath of fresh air to businesses and individuals seeking loans from commercial banks this year since the last time there was a reduction of the policy rate was in January 2019.
In the report, the EIU said inflation is set to be moderate after being high throughout 2019.
After which the committee has met 5 times and kept the rate unchanged as inflation remained volatile.
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