{"id":448356,"date":"2026-01-30T23:28:09","date_gmt":"2026-01-30T23:28:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/448356\/"},"modified":"2026-01-30T23:28:09","modified_gmt":"2026-01-30T23:28:09","slug":"gncci-urges-banks-to-reduce-lending-rates-after-bog-policy-rate-cut","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/448356\/","title":{"rendered":"GNCCI urges banks to reduce lending rates after BoG policy rate cut"},"content":{"rendered":"<p class=\"article-image\"><a href=\"https:\/\/www.ghanaweb.com\/GhanaHomePage\/business\/GNCCI-urges-banks-to-reduce-lending-rates-after-BoG-policy-rate-cut-2019554?gallery=1\" rel=\"nofollow noopener\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/01\/35478946.295.jpg\" alt=\"Stephane Miezan, President of the Ghana National Chamber of Commerce and Industry\" title=\"Stephane Miezan, President of the Ghana National Chamber of Commerce and Industry\" width=\"295\" height=\"197\" \/> <\/a>Stephane Miezan, President of the Ghana National Chamber of Commerce and Industry<\/p>\n<p id=\"article-123\">The Ghana National Chamber of Commerce and Industry (GNCCI) has welcomed the <a target=\"_blank\" href=\"https:\/\/www.ghanaweb.com\/GhanaHomePage\/people\/person.php?ID=3532\" rel=\"nofollow noopener\">Bank of Ghana<\/a>\u2019s decision to reduce the Monetary Policy Rate, lowering it from 18 percent to 15.5 percent.<\/p>\n<p>In a press statement released on January 29, 2026, the Chamber described the move as a timely measure to stimulate business recovery and reinforce private sector-driven growth.<\/p>\n<p>According to the Chamber, the continued reduction in the policy rate signals improving macroeconomic stability and a gradual easing of monetary conditions. It noted that the rate has cumulatively fallen by 11.5 percentage points between January 2025 and January 2026.<\/p>\n<p><a href=\"https:\/\/www.ghanaweb.com\/GhanaHomePage\/business\/BoG-lowers-policy-rate-from-18-to-15-5-2019240\" rel=\"nofollow noopener\" target=\"_blank\">BoG lowers policy rate from 18% to 15.5%<\/a><\/p>\n<p>Despite this progress, the Chamber expressed concerns that commercial bank lending rates remain stubbornly high.<\/p>\n<p>&#8220;Non-interest cost components and bank-specific charges, including risk premiums, operating costs, profit margins, processing and arrangement fees, and commitment charges, continue to add roughly 4-5 percentage points to the policy rate, further increasing the cost of credit for businesses. This level of financing is prohibitively high for both large businesses and SMEs,&#8221; the statement said.<\/p>\n<p>The Chamber urged commercial banks to align more closely with the central bank\u2019s efforts by reducing non-interest charges. It also encouraged the adoption of risk-sharing mechanisms and credit enhancement frameworks to lower lending risks and ease borrowing costs.<\/p>\n<p>GNCCI emphasised that stronger transmission of monetary easing to borrowers would help expand sustainable credit growth, reduce non-performing loans, spur investment in productive sectors, and ultimately strengthen private sector\u2013led economic growth.<\/p>\n<p>SP\/MA<\/p>\n<p>BoG lowers policy rate from 18% to 15.5%<\/p>\n<\/p>\n<p>Banking sector shows resilience as assets, profits grow in 2025 &#8211; BoG<\/p>\n<\/p>\n<p>Banking sector shows resilience as assets, profits grow in 2025 &#8211; BoG<\/p><\/p>\n","protected":false},"excerpt":{"rendered":"Stephane Miezan, President of the Ghana National Chamber of Commerce and Industry The Ghana National Chamber of Commerce&hellip;\n","protected":false},"author":2,"featured_media":448357,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[64,63,99,164],"class_list":{"0":"post-448356","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-au","9":"tag-australia","10":"tag-business","11":"tag-economy"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/448356","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=448356"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/448356\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/448357"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=448356"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=448356"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=448356"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}