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A few more commercial banks have reduced their base rates in response to the policy rate cut by the Bank of Ghana.
Amalbank’s new base rate is 25.95 from down from 27.7 percent; Sahel Sahara Bank has also slashed its rate to 27.5 from 29.5 percent.
Zenith Bank is also down to 26.5 percent from 28.5. That of Unibank is also now 26.95 down from 28.75 percent whilst HFC Bank has dropped its rate to 27.5 also from 28.75 percent.
Other banks have already announced their revisions. The Trust Bank now has a rate of 25 percent whilst Standard Chartered Bank’s is 24 percent.
That of the Agricultural Development Bank however remains the lowest at 21.95 percent.
Source: Joy Business/Myjoyonline.com/Ghana
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