How the decline of the Ghana Reference Rate to 11.71% is reshaping fiscal space, private sector investment and unlocking the Big Push

Introduction and Definition The Ghana Reference Rate (GRR) is the benchmark interest rate published monthly by the Ghana Association of Banks. It represents the base rate from which commercial banks price their loans and credit facilities. The GRR is calculated as a weighted average of the central bank’s Monetary Policy Rate (MPR), Treasury bill yields, […]