{"id":142736,"date":"2015-08-12T08:21:26","date_gmt":"2015-08-12T08:21:26","guid":{"rendered":"http:\/\/4cd.e16.myftpupload.com\/?p=142736"},"modified":"2015-08-12T08:24:14","modified_gmt":"2015-08-12T08:24:14","slug":"bog-merges-monetary-policy-reverse-repo-rate","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2015\/08\/bog-merges-monetary-policy-reverse-repo-rate\/","title":{"rendered":"BoG merges monetary policy & reverse repo rate"},"content":{"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.<\/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":[],"categories":[19],"tags":[4],"yoast_head":"\n