Central Bank increases policy rate to 21%

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• Joe Turkey 11 years ago

  On the one hand, "The Ministry for Trade and Industry has declared war, not on foreign retailers this time but, on high interest rates in the country" (Ghanaweb 11/11/2014). On the other hand the BOG is increasing policy rate ...
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  On the one hand, "The Ministry for Trade and Industry has declared war, not on foreign retailers this time but, on high interest rates in the country" (Ghanaweb 11/11/2014). On the other hand the BOG is increasing policy rates by 10.53 percent. I hope the BOG also understand that this is an implicit 10.53% devaluation of the cedi they NDC government is struggling to stabilize. Correctional measure? Are interests rates in the country too low or the cedi is now too strong? Who at all is in control of Ghana's ecomini?

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• Osbon 11 years ago

  useless people in control of our country. We need Intervention from all our people around world.

  useless people in control of our country. We need Intervention from all our people around world.

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• KOFI EGYIR -TEMA 11 years ago

  what is this my boss will say?????????????????????????????????????????????????

  what is this my boss will say?????????????????????????????????????????????????

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• MENSA 11 years ago

  DOES ANY OF THE LOSERS THAT MADE THIS STUPID DECISION TO RAISE RATE TO 21% EVER USE HIS HEAD ? AND WHAT SUCH RATE INCRESS MEANS TO THE ECONOMY? IT MEANS FREZZING OF PROJECTS THAT CREATE JOBS,IT MEAN NO ONE WILL MAKE ANY IN ...
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  DOES ANY OF THE LOSERS THAT MADE THIS STUPID DECISION TO RAISE RATE TO 21% EVER USE HIS HEAD ? AND WHAT SUCH RATE INCRESS MEANS TO THE ECONOMY? IT MEANS FREZZING OF PROJECTS THAT CREATE JOBS,IT MEAN NO ONE WILL MAKE ANY INVESTMENTS WITH 21% RATES ,IT MEANS SLOWING THE ECONOMY TO GRINDING STOP WHILE, INFLECTING MORE PAIN AND MISUREY ON GHANA PEOPLE
  DOES ANYONE FACK..... THINKS BEFORE HE DOES SUCH STUPID MOVE? WHO RUN GHANA NOW FALKS?

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• ASSIN KOJO MBIAH 11 years ago

  THEY SHOULD HAVE INCREASED IT TO 95 PER CENT - WHO CARES.CORRUPT GUYS

  THEY SHOULD HAVE INCREASED IT TO 95 PER CENT - WHO CARES.CORRUPT GUYS

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• boss 11 years ago

  This is bad for business and for anybody looking to borrow in Ghana. This is supposed to translate into higher savings but this does not happen.

  This is bad for business and for anybody looking to borrow in Ghana. This is supposed to translate into higher savings but this does not happen.

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• hawa 11 years ago

  Is this the government who is pushing for a reduction in Interest rates by banks? what a misplaced priority!

  Is this the government who is pushing for a reduction in Interest rates by banks? what a misplaced priority!

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• daladam 11 years ago

  falks with intrest rate at mafia rates
  all building projects and any and all
  new improvments and economy growth will now come to a afast stop and more un-employments
  WHO THE HELL IS IN GHARGE OF GHANA TODAY?

  falks with intrest rate at mafia rates
  all building projects and any and all
  new improvments and economy growth will now come to a afast stop and more un-employments
  WHO THE HELL IS IN GHARGE OF GHANA TODAY?

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• kofi yankey 11 years ago

  A MONETARY POLICY WHICH IS SLAVE TO FISCAL POLICY WILL EVENTUALLY RESULTS AS THIS. WHAT ON EARTH? THE CONSEQUENCIES TO THE FINANCIAL INSTITUTIONS SUCH AS MORAL HAZARD AND DEFAULT WILL BE HIGHER. THIS COULD COLLAPSE THE FINANC ...
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  A MONETARY POLICY WHICH IS SLAVE TO FISCAL POLICY WILL EVENTUALLY RESULTS AS THIS. WHAT ON EARTH? THE CONSEQUENCIES TO THE FINANCIAL INSTITUTIONS SUCH AS MORAL HAZARD AND DEFAULT WILL BE HIGHER. THIS COULD COLLAPSE THE FINANCIAL SYSTEM.
  BOG SHD REVERSE ITS DECISION.....

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• Obenfo 11 years ago

  How realistic is this 200 basis point increase? If the BoG has fixed its rate at 21%, what audacity does it has to ask banks to reduce rate if they charge 30% to offer loans to businesses? Wow, what a Nation! That's why every ...
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  How realistic is this 200 basis point increase? If the BoG has fixed its rate at 21%, what audacity does it has to ask banks to reduce rate if they charge 30% to offer loans to businesses? Wow, what a Nation! That's why everybody want to become a politician.

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• summy addo 11 years ago

  ILLEGAL SCALE ADJUSTMENTS KILLING THE INTEREST OF YOUTHFUL GHANAIAN COCOA FARMERS. LBCs TO BLAME USE PURCHASING CLERKS AS TOOLS

  ILLEGAL SCALE ADJUSTMENTS KILLING THE INTEREST OF YOUTHFUL GHANAIAN COCOA FARMERS. LBCs TO BLAME USE PURCHASING CLERKS AS TOOLS

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• mr amin 11 years ago

  some of the IMF conditionalities. pls help me to vote ndc out. as for BoG its a faild institution. unable to protect the cedi.

  some of the IMF conditionalities. pls help me to vote ndc out. as for BoG its a faild institution. unable to protect the cedi.

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• papasi 11 years ago

  how can an ewe man be a custodian of a whole major economic block like the Bank of Ghana? Its a stack and major BLUNDER by the idiot stooge nincompoop so-called president to have even thought of that,, with our woes ever incr ...
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  how can an ewe man be a custodian of a whole major economic block like the Bank of Ghana? Its a stack and major BLUNDER by the idiot stooge nincompoop so-called president to have even thought of that,, with our woes ever increasing by the day as a nation when these rots and idiots superintend over our assets,,, No major curtailment has been made to further reduce our policy rate for the past three years of shambolic governance with the resultant effect being commercial banks borrowing @ high rates @ the central bank and lending to customers at very high interest rates

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• sense 11 years ago

  I will also raise my prices and lay off 200 employees to afford interest payments. There you go, dear central bank, more inflation. Such a bad move for local businesses. Bad move.

  I will also raise my prices and lay off 200 employees to afford interest payments. There you go, dear central bank, more inflation. Such a bad move for local businesses. Bad move.

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• Stewart7000 11 years ago

  This is not going to stop the printing and distribution of Fiat (fake) money from the banks. Creating loans out of thin air then expecting you to pay it back, WITH INTEREST.
  
  Ask them to provide:
  
  1. Validation of the deb ...
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  This is not going to stop the printing and distribution of Fiat (fake) money from the banks. Creating loans out of thin air then expecting you to pay it back, WITH INTEREST.
  
  Ask them to provide:
  
  1. Validation of the debt (the actual accounting);
  
  2. Verification of your debt (a sworn affidavit or a hand signed invoice);
  
  3. A copy of the contract signed by both parties and therefore binding both parties.
  
  The Government steals money for so-called stamps and signatures. Arbitrary charges and fees, for what?
  
  So do the banks, for their profits.
  
  Lining the pockets of employees in banks and government.
  
  Starving the people, stealing their future!

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