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Mills appeals to banks to reduce interest rates

President John Evans Atta Mills on Tuesday, appealed to managements of the nation’s banks to reduce the current high interest rates. He said now that the economy was improving, with a further decline in the Bank of Ghana base rate, the…

Nigeria gets ‘bad bank’ law

The president of Nigeria, Goodluck Jonathan has signed into law a new legislation creating an asset management company to soak up bad bank loans, the Reuters has reported citing central bank governor, Lamido Sanusi Lamido. He told the news…

Bank of Ghana policy rate now 13.5%

As widely expected by economists, financial analysts and industry leaders the Bank of Ghana today Friday July 16, 2010 cut its policy rate to 13.5% from 15% following the further drop of the country’s inflation rate. The inflation rate for…

Ghana inflation falls to 9.52% in June

Ghana’s inflation for the month of June has hit 9.52%, the Ghana Statistical Service has announced. This is the 12th consecutive time that the country’s inflation has dropped. Inflation for the month of May stood at 10.68% fueling…