The Bank of Ghana (BoG), will today, Monday, 22 January, 2018, announce the policy rate for commercial banks in the country.
The Monetary Policy Committee(MPC) meeting will conclude with a press conference to announce the decision of the Committee on the appropriate positioning of the Bank’s policy rate.
Today’s announcement will be the first for the year and will affect interest rates charged by banks on the loans given to customers.
The rate was reduced from 25.5 percent in January 2017 to 20 percent as at November the same year.
The policy rate is the rate at which the central bank lends money to commercial banks.
