Lending rates are expected to remain virtually the same for the rest of the year as analysts are predicting an unchanged policy rate of 19.0 per cent.
These predictions, by analysts, have come before the Monetary Policy Committee (MPC) of the Bank of Ghana conducts its last assessment of the Ghanaian economy next month.
The MPC kept the policy rate � the rate at which the Central Bank lends to banks � the same in September.
This was due to the expectations that the global economy will rebound whilst inflation and interest rates trend downwards before the end of the year.
Renowned research institution, Ecobank Research, says its analysis suggests the policy rate will remain unchanged for the rest of the year.
Interest rates have generally trended up on the money market between December 2013 and August 2014.
The rate on the 91-day instrument increased to 25 per cent from 19.2 percent. Similarly, that on the 182-day instrument increased to 26.4 per cent from 18.7 per cent.
The rate on the 1-year note rose to 22.5 per cent from 17 per cent, and the rate on the 2-year increased to 23 per cent from 16.8 per cent. The 3-year bond rate rose to 25.5 per cent from 19.2 per cent.
The weighted average interbank rate increased to 24.2 per cent from 16.3 per cent in December 2013.
Average lending rates of the banks rose to 27.8 per cent from 25.6 per cent in December 2013.
Also, the average rate on 3-month term deposits increased marginally to 13 per cent from 12.5 per cent.
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