Ghana Interest Rate

The benchmark interest rate in Ghana was last recorded at 18 percent. Interest Rate in Ghana is reported by the Bank of Ghana. Interest Rate in Ghana averaged 16.56 Percent from 2002 until 2014, reaching an all time high of 27.50 Percent in March of 2003 and a record low of 12.50 Percent in December of 2006. In Ghana, interest rates decisions are taken by the Monetary Policy Committee of the Bank of Ghana. The official interest rate is the Monetary Policy Rate (MPR). This page provides - Ghana Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-24

Actual Previous Highest Lowest Forecast Dates Unit Frequency
18.00 18.00 27.50 12.50 18.00 | 2014/06 2002 - 2014 Percent Monthly

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Ghana Interest Rate
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2013-05-22 01:00 PM Ghana
Interest Rate Decision
16% 15% 15%
2013-07-31 01:00 PM Ghana
Interest Rate Decision
16% 16% 17%
2014-02-06 12:15 PM Ghana
Interest Rate Decision
18% 16% 16%
2014-04-02 01:00 PM Ghana
Interest Rate Decision
18% 18% 18%
2014-06-20 01:00 PM Ghana
Interest Rate Decision
18% 18%
2014-08-22 01:00 PM Ghana
Interest Rate Decision
16%
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Money Last Previous Highest Lowest Forecast Unit
Foreign Exchange Reserves 5187.78 2013-12-31 5232.03 5438.71 300.26 5358.89 2014-06-30 USD Million [+]
Interest Rate 18.00 2014-04-02 18.00 27.50 12.50 18.00 2014-06-30 Percent [+]
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Interest Rate | Notes
The interest rate shown on this page refers to the central bank benchmark interest rate. Usually, the central bank benchmark interest rate is the overnight rate at which central banks make loans to the commercial banks under their jurisdiction. Moving the benchmark interest rate, the central bank is able to make an impact on interest rates of commercial banks, inflation level of the country and national currency exchange rate. Reduction of interest rates should bring increase in business activity, a rise in inflation rate and weakening of national currency. In case of increase in interest rates the level of business activity is likely to drop, inflation declines and national currency strengthens.


RELATED NEWS

Ghana’s Economy Advances 2.7% QoQ in Q4  
Ghana GDP growth accelerated to a quarter-on-quarter seasonally adjusted 2.7 percent in the last three months of 2013. Figures for the previous quarter were revised to show a 4.4 percent contraction, down from a 0.5 percent expansion initially reported.
Ghana GDP Expands 4.9% YoY in Q4  
Ghana's economy advanced 4.9 percent year-on-year in the fourth quarter of 2013. It is the slowest expansion since the third quarter of 2010. Considering the full year, the GDP expanded 7.1 percent.
Ghana Inflation Rate Rises to 4-Year High  
Ghana annual inflation rate increased even further to 14.5 percent in March of 2014. Consumer prices accelerated for the seventh consecutive month, recording the highest inflation rate since February of 2010.
Ghana Inflation Rate at 14% in February  
Ghanaian consumer prices kept its upward trend and rose 14 percent in February of 2014, up from 13.8 percent in January. The inflation rose for the sixth straight month, driven by higher fuel prices, mainly kerosene and transport and dairy costs.
Ghana Inflation Rate Up to 4-Year High  
In January of 2014, Ghana’s annual inflation rate accelerated to 13.8 percent from 13.5 percent in the last month of 2014. It is the highest growth rate since February of 2010.
Lower Gold Production Hurts Ghana GDP  
Ghanaian economy slowed sharply in the third quarter of 2013 and rose a meager 0.5 percent over the previous quarter, down from a 3.9 percent expansion in the previous three-month period. A sharp fall in global gold prices prompted some mines to cut production.
Ghana Q3 2013 GDP Disappoints  
In the third quarter of 2013, Ghana’s GDP growth slowed sharply to 0.3 percent year-on-year from 6.1 percent in the previous quarter, hurt by lower gold and oil production.
Ghana Inflation Rate Edges Up to 13.5% in December  
In December of 2013, Ghana annual inflation rate accelerated for the fourth straight month to 13.5 percent from 13.2 percent recorded in November. It is the highest rate in almost four years, mainly due to higher prices of water supply, electricity, transport, kerosene and gas.
Ghana Inflation Rate Slightly Up to 13.2% in November  
In November of 2013, Ghana’s inflation rate rose marginally to 13.2 percent, from 13.1 percent in October, driven by higher housing, water, electricity, gas, fuel and transport prices.
Ghana Inflation Rate Accelerates to 13.1% in October  
In October of 2013, Ghana’s annual inflation rate rose to a fresh three-year high of 13.1 percent, from 11.9 percent in September. The rise is mainly due to higher cost of non-food items like housing, gas, water, fuels, transport and clothing.
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