{"id":377895,"date":"2017-11-27T05:40:10","date_gmt":"2017-11-27T05:40:10","guid":{"rendered":"http:\/\/citifmonline.com\/?p=377895"},"modified":"2017-11-26T20:13:02","modified_gmt":"2017-11-26T20:13:02","slug":"industry-targets-drop-bogs-policy-rate-today","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2017\/11\/industry-targets-drop-bogs-policy-rate-today\/","title":{"rendered":"Industry targets a drop in BoG\u2019s policy rate today"},"content":{"rendered":"
Businesses are seeking that the Bank of Ghana (BoG) will reduce its lending rate again as it announces a policy rate today, Monday, November 27, 2017.<\/p>\n
They believe that the development should trickle down on interest rates paid on loans they contract from their banks going forward.<\/p>\n
The expectations are ahead of the Monetary Policy Committee (MPC)\u2019s engagement with the media to discuss the major economic policy decisions by the central bank.<\/p>\n
Monday\u2019s meeting concludes the 79th<\/sup>\u00a0regular meetings of the Monetary Policy Committee of the central bank.<\/p>\n The committee, among others has been looking at the country\u2019s economic health over the past four days and is expected to announce new measures to sustain growth where necessary.<\/p>\n <\/p>\n Sharing his expectation, the CEO of the Private Enterprise Federation (PEF), Nana Osei Bonsu made a strong argument for a reduction in the policy rate, citing declines in most economic indicators.<\/p>\n \u201cAt least there must be a decline of some sort; I cannot predict the magnitude of that differentiation. But we think that there may be a movement downward,\u201d he stated.<\/p>\n The President of the Ghana National Chamber of Commerce & Industry (GNCCI), Nana Dr. Appiagyei Dankawoso I, also maintained that a possible reduction to 19 percent may be inevitable.<\/p>\n