Interest Rates Drop Sharply, Boost Lending Prospects

Interest Rates Drop Sharply, Boost Lending Prospects

Interest rates on the government securities have fallen sharply across the yield curve, reaching record lows and signaling a potential reduction in bank lending rates that could stimulate economic growth. The decline also comes as a relief for the government, as its cost of borrowing is set to ease. Data from the Bank of Ghana (BoG) shows that the yield on the 91-day Treasury bill fell by 215 basis points to 6.45%, while the 182-day bill decline…