Cost Of Credit To Go Up

BoG Increases Policy Rate To 19%, Cost Of Credit To Go Up The Monetary Policy Committee of the Bank of Ghana has for the second consecutive time increased the Policy Rate – the rate at which it lends to commercial banks by 200 basis points to 19%. This was announced by the Governor, Dr. Ernest Addison at a press briefing today, May 23, 2022. The increase in the Central Bank’s monetary policy rate means cost of borrowing is expected to go up at least for the next two and half months. Prior to the announcement of the Policy Rate, the…