• About
  • Advertise
  • Privacy Policy
  • Contact
Tuesday, October 14, 2025
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

Fitch expects Central Bank to hold policy rate at 13.5% till end of 2021

Stephen M.Cby Stephen M.C
July 16, 2021
Reading Time: 3 mins read
Stephen M.Cby Stephen M.C
in Economy, Sub Top Stories1
0
Fitch expects Central Bank to hold policy rate at 13.5% till end of 2021

A global rating agency, Fitch Solutions, expects Ghana’s Central Bank, the Bank of Ghana, to maintain its policy rate, the rate at which the Bank lends to commercial banks, at 13.5% for the rest of the year to cushion the country’s economic recovery process.

According to Fitch, maintaining the policy rate at 13.5% will be of tremendous benefit to the country as it will help stimulate economic activity because the rating agency expects West Africa’s second largest economy to be among the fastest growing economies in 2021 within the Sub-Saharan African region.

 “Our view now is that we expect the Central Bank to hold the benchmark interest rate at its current level- 13.5% until the end of the year. This is to enable the economic recovery to gain momentum in the coming months”.

Also, Fitch expects Ghana’s economy to grow at 4.5% in 2021, a 0.5 percentage point lower than the Central Bank’s forecast of 5% this year. The Rating Agency cited the recent vaccination exercise as key in the country’s recovery process this year. Meanwhile, this projection by Fitch is an affirmation of an earlier forecast by the World Bank which also pegs the country’s growth rate at 4.5% this year.

RelatedPosts

Cedi Stages Stunning Comeback: Rises to GH¢11.9 Per Dollar, Wipes Out Third Quarter Losses

Forson, Asiama Lead Ghana’s Economic Diplomacy Offensive at 2025 IMF/World Bank Annual Meetings

Ghana Bourse Records Explosive Growth in Trading Activity

 “…We expect Ghana’s economy to be among the strongest economies in sub-Sahara Africa this year, growing around 4.5%. We think vaccines rollout in the coming months will help check COVID-19 infections”.

Strong second quarter growth

Fitch Solutions further stated that Ghana’s economy recovered strongly during the second quarter of this year and is expected to continue for the remaining quarters despite the presence of COVID-19. The research arm of the rating agency of Fitch indicated that its data suggests that the economy is on a strong rebound, consistent with the Bank of Ghana’s Composite Index of Economic Activity as well as Business and Consumer Confidence Survey.

On the contrary, Fitch indicated that unlike Ghana where economic activity is gaining momentum, the situation looks gloomy for Africa’s most industrialized nation, South Africa.  

ADVERTISEMENT

 “High frequency data suggests strong recoveries in Kenya, Uganda and Ghana, while weak Q12021 Gross Domestic Product readings for South Africa and Mozambique point to a muted outlook for Southern Africa. Although Ghanaian GDP data have not yet been published at the time of writing, PMI readings and the Central Bank’s composite indicator of economic activity both indicate robust growth in economic activity in the first months of 2021”.

Growth in Q1 2021

Meanwhile, data from the Ghana Statistical Service (GSS) show that the economy expanded by 3.1% in the first quarter of this year, driven mainly by Construction, Manufacturing as well as Information and Communication sub sectors.  But it was lower than what was realized the same period in 2019.

Despite the COVID-19, Ghana’s economy has shown some resistance even though it recorded a sluggish 0.4% growth in 2020.  This was as a result of two successive contractions in the second and third quarters of 2020 by 3.2% and 1.1% respectively. In 2021, all major rating agencies and institutions have forecast a strong growth for the Ghanaian economy anchored heavily on the roll out of vaccines.

READ ALSO: Rural Banking Sector shows gradual improvement

Tags: Bank of Ghanaeconomic recoveryFitch SolutionsGhana Statistical ServicePolicy ratevaccination
Please login to join discussion
Previous Post

We Support Provision of ‘Pasco’- Education Watch

Next Post

Ghana to be affected by EU’s carbon border adjustment mechanism

Subscription Form

Related Posts

Cedi Stages Stunning Comeback: Rises to GH¢11.9 Per Dollar, Wipes Out Third Quarter Losses
Economy

Cedi Stages Stunning Comeback: Rises to GH¢11.9 Per Dollar, Wipes Out Third Quarter Losses

October 14, 2025
Forson, Asiama Lead Ghana’s Economic Diplomacy Offensive at 2025 IMF/World Bank Annual Meetings
Economy

Forson, Asiama Lead Ghana’s Economic Diplomacy Offensive at 2025 IMF/World Bank Annual Meetings

October 14, 2025
Ghana Bourse Records Explosive Growth in Trading Activity
Securities/Markets

Ghana Bourse Records Explosive Growth in Trading Activity

October 14, 2025
Cocoa and Forests Initiative, Ferrero Strengthens Its Commitment in 2022
Economy

Decline In Global Cocoa Demand Puts Ghana’s Fiscal Position At Risk

October 13, 2025
Ghana’s President HE John Dramani Mahama
General News

Mahama Champions Stronger Ghana-China Ties Amid Global Trade Uncertainty

October 13, 2025
Cedi’s Strength Hurts Import Taxes as Ghana Misses 2025 Revenue Target by GH¢6.7 Billion
Economy

Cedi’s Strength Hurts Import Taxes as Ghana Misses 2025 Revenue Target by GH¢6.7 Billion

October 13, 2025
Authorities Demand Urgent Action as Typhoid Surges in Oti Region
General News

Government to Begin Dambai-Kete Krachi Bridge Construction Soon

by Silas Kafui AssemOctober 14, 2025
IMANI Africa and ISSER to Present Groundbreaking Research on Ghana’s Digital Assets and Credit Guidelines at MTN MoMo’s Fintech Forum
Vaultz Business

IMANI Africa and ISSER to Present Groundbreaking Research on Ghana’s Digital Assets and Credit Guidelines at MTN MoMo’s Fintech Forum

by Stephen M.COctober 14, 2025
Stop Playing Politics with Health — Minority Chides Health Minister
General News

Stop Playing Politics with Health — Minority Chides Health Minister

by Emmanuel Tibila BoasahOctober 14, 2025
People march with signs during a general strike in Brussels, 14 October, 2025.
Europe

Thousands Flood Brussels Streets in National Strike

by Comfort AmpomaaOctober 14, 2025
Cedi Stages Stunning Comeback: Rises to GH¢11.9 Per Dollar, Wipes Out Third Quarter Losses
Economy

Cedi Stages Stunning Comeback: Rises to GH¢11.9 Per Dollar, Wipes Out Third Quarter Losses

by Stephen M.COctober 14, 2025
President John Dramani Mahama
General News

China’s Transformation, a Remarkable Modern Story: Ghana Determined to Learn from China – President Mahama

by Evans Junior OwuOctober 14, 2025
Authorities Demand Urgent Action as Typhoid Surges in Oti Region
IMANI Africa and ISSER to Present Groundbreaking Research on Ghana’s Digital Assets and Credit Guidelines at MTN MoMo’s Fintech Forum
Stop Playing Politics with Health — Minority Chides Health Minister
People march with signs during a general strike in Brussels, 14 October, 2025.
Cedi Stages Stunning Comeback: Rises to GH¢11.9 Per Dollar, Wipes Out Third Quarter Losses
President John Dramani Mahama

Recent News

Authorities Demand Urgent Action as Typhoid Surges in Oti Region

Government to Begin Dambai-Kete Krachi Bridge Construction Soon

October 14, 2025
IMANI Africa and ISSER to Present Groundbreaking Research on Ghana’s Digital Assets and Credit Guidelines at MTN MoMo’s Fintech Forum

IMANI Africa and ISSER to Present Groundbreaking Research on Ghana’s Digital Assets and Credit Guidelines at MTN MoMo’s Fintech Forum

October 14, 2025
Stop Playing Politics with Health — Minority Chides Health Minister

Stop Playing Politics with Health — Minority Chides Health Minister

October 14, 2025
People march with signs during a general strike in Brussels, 14 October, 2025.

Thousands Flood Brussels Streets in National Strike

October 14, 2025
Cedi Stages Stunning Comeback: Rises to GH¢11.9 Per Dollar, Wipes Out Third Quarter Losses

Cedi Stages Stunning Comeback: Rises to GH¢11.9 Per Dollar, Wipes Out Third Quarter Losses

October 14, 2025
President John Dramani Mahama

China’s Transformation, a Remarkable Modern Story: Ghana Determined to Learn from China – President Mahama

October 14, 2025
Subscription Form
The Vaultz News

Copyright © 2025 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2025 The Vaultz News. All rights reserved.