Private Sectors

Private sector credit growth picked up in December 2022, partly reflecting continued portfolio rebalancing by banks and revaluation effects on foreign currency denominated credit, the Bank of Ghana has said at its 110th Monetary Policy Committee meeting held on Monday, 30 January 2023. In nominal terms, private sector credit increased by 31.8 per cent in December 2022, compared with 11.2 per cent in December 2021. In real terms, however, private sector credit contracted sharply by 14.5 per cent, compared with 1.3 per cent contraction over the review period, reflecting sustained price pressures. The Monetary Policy Committee, last week, held its…