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Prime Rate Must Come Down - Financial Expert.
(From Ghanaian Chronicle - AAGM)
Byline: Joseph Coomson
As the Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) starts the review of the economy today for three days, financial experts in the country are expecting nothing less than a one and half percent reduction in the prime rate on Monday.
The prime rate, which measures the rate at which commercial banks borrow money from the Central Bank, has remained at 16.5% over the last two quarters.
Speaking yesterday to a financial analyst from the Strategic African Securities (SAS), Mr. Francis Komla Nyoagbe said with all economic indicators performing better, the prime rate should be …
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