Published
The Policy rate, set by the bank of Ghana, influences th interest rate banks offer on loans and savings. Dr Maxwell Ampong dives into the subject.
For businesses, a change in the policy rate affects borroing costs, investment decisions, and ultimately, the price of goods and services.
For the average family, this means that fluctuations in the policy rate can directly impact our household budget, from the cost of groceries to the interest on personal loans.
Understanding the policy rate helps us navigate finanicial decisions more effectively for personal development.
As we grasp these concepts, we become better equipped to plan our financies, spend wisely, and contribute to economic stability and growth.
Lets continue to grow the Entrepreneur in You.
#PolicyRate #FinancialLiteracy #BankOfGhana #Entrepreneur
For businesses, a change in the policy rate affects borroing costs, investment decisions, and ultimately, the price of goods and services.
For the average family, this means that fluctuations in the policy rate can directly impact our household budget, from the cost of groceries to the interest on personal loans.
Understanding the policy rate helps us navigate finanicial decisions more effectively for personal development.
As we grasp these concepts, we become better equipped to plan our financies, spend wisely, and contribute to economic stability and growth.
Lets continue to grow the Entrepreneur in You.
#PolicyRate #FinancialLiteracy #BankOfGhana #Entrepreneur
- Category
- Africa
- Tags
- Policy Rate, Dr Maxwell Ampong, Entreprenuer in You
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