Ghana news briefing
Ghana Reference Rate climbs to 10.61% in August, signalling fresh pressure on borrowing costs
The Ghana Reference Rate (GRR), the benchmark used by commercial banks to price loans, is set to rise marginally to 10.
Introduced in 2017 by the Bank of Ghana in collaboration with the Ghana Association of Banks, the Ghana Reference Rate was designed to provide a transparent and uniform benchmark for determining lending rates across the country’s banking sector.
Despite the slight increase in the benchmark rate, JOYBUSINESS checks indicate that lending rates across the banking sector continue to trend downwards.
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