Band of Ghana in its monetary policy committee meeting has reduced its interest rate to support the recovery of the economy.
The monetary policy committee reduced the rate to 13.5% from 14.5%, Governor Ernest Addison told reporters on Monday in Accra.
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Meanwhile potential borrowers of Ghana’s yet to be operational National Development Bank would require clearance from the bank of Ghana as a prerequisite.
The move according to the Governor of the Central Bank, Dr. Ernest Addison is to ensure that the new financial body does not suffer the fate of previous development banks.