Benchmark lending rate in Ghana maintained at 17 percent

The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has maintained the rate at which it lends to commercial banks at 17 per cent, citing threats to economic growth and inflation rate.

Speaking at a press conference at the Central Bank on Monday, the Bank of Ghana governor, Dr Ernest Addison, said they are closely monitoring developments on the market and will respond adequately with additional measures to help keep inflation under control.

Recapitalisation of Banks

Dr Addison noted that six banks have met the minimum capital requirement and two others are working to meet it, adding that he expects about 15 banks to meet the requirement by end of the year.