Average lending rate hits 32.69% – BoG
![](https://cdn.classfmonline.com/imagelib/thumbs/70408597.jpg)
In October 2023, the average lending rate in Ghana surged to 32.69%, equivalent to an average monthly rate of 2.724%, according to data from the Bank of Ghana.
The rate had previously declined from March to May 2023, remaining within the 31% range until September 2023.
In February 2023, the average lending rate was 36.64%, decreasing to 35.87% in March.
It experienced a sharp fall to 31.66% in April and 30.94% in May, with a slight increase to 31.5% in June.
The Ghana Reference Rate stood at 31.09% in October 2023.
The Monetary Policy Committee is expected to announce key decisions on November 27, 2023.
Source: classfmonline.com
Trending Business
Ghana’s economy still bleeding, cost of living remains high – Ato Forson
06:39Mahama's 24-hour economy will revive 'dead' Tema - GFL
19:57Mahama is an advocate for women’s financial empowerment-Opoku-Agyemang
20:00YEA annnouces phase 2 of skills training programme, calls for applications
12:58LUIHF to picket Ministry of Finance on Wednesday over delays in releasing funds
12:32MegaCash Lucky Box poise to offer Ghanaians chance to win millions
15:05Mahama promises cashew factory for Amoma under next NDC Gov't
11:44Gov't set to raise cocoa farmgate price by nearly 45%, sources say
10:58Akufo-Addo should’ve resigned over free fall of Cedi – Mahama
14:23Demand locked-up DKM funds from Bawumia – Mahama to people of Nkoranza
12:44