Interest Rate Has To Come Down – Akufo-Addo

President Akufo-Addo

President Akufo-Addo has called for reduction in the interest rate in the country.

The move, he said, is key in making Ghanaian businesses competitive to their counterparts in the West African sub-region.

Mr. Akufo-AddoAddo is addressing journalists from the Jubilee House.

The Bank of Ghana maintained its benchmark interest rate steady at 16% during its November meeting, against market expectations of a 25 bps cut.

The decision was as a result of proposal to rise the budget deficit to 4.7% in 2020 from 4.5% in 2019 which would threaten economic growth and inflation outlook.

But President Akufo-Addo insist the rate has to come down further.

---Daily Guide