The Bank of Ghana (BoG) has merged the Monetary Policy Rate and the Reverse Repo Rate which is the effective rate at which Bank of Ghana lends to commercial banks.<\/p>\n
[contextly_sidebar id=”JyeIehnsIAN9dTaY315y3A7Ib1Hm1Pf5″]The merger takes effect from tomorrow August 13, 2015.<\/p>\n
According to the Bank of Ghana, the merged rate shall continue to be referred to as the Monetary Policy Rate and will be positioned at 24 per cent.<\/p>\n
This merger is to ensure transparency in the monetary policy stance of the central bank.<\/p>\n
According to the BOG the changes in effect; do not reflect a change in monetary policy stance, since the maximum lending rate of the Bank of Ghana remains unchanged at 25 per cent.<\/p>\n
Meanwhile the BoG has also introduced a 7-day Reverse Repo (lending) facility, available to all banks to help them manage liquidity more effectively.<\/p>\n
The Reverse Repo facility is the principal instrument through which Bank of Ghana will inject liquidity into the banking system during periods of general liquidity shortage.<\/p>\n
Citi Business News understands the detailed modalities and procedures for accessing the facility have already been communicated to the banks.<\/p>\n
–<\/p>\n
By:\u00a0 Lorrencia Nkrumah\/citifmonline.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":"
The Bank of Ghana (BoG) has merged the Monetary Policy Rate and the Reverse Repo Rate which is the effective rate at which Bank of Ghana lends to commercial banks. [contextly_sidebar id=”JyeIehnsIAN9dTaY315y3A7Ib1Hm1Pf5″]The merger takes effect from tomorrow August 13, 2015. According to the Bank of Ghana, the merged rate shall continue to be referred to […]<\/p>\n","protected":false},"author":14,"featured_media":7352,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[19],"tags":[4],"class_list":["post-142736","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-health","tag-st-augustines-college"],"_links":{"self":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/142736","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=142736"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/142736\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/media\/7352"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=142736"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=142736"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=142736"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}