Performance of the banking sector during the first half of 2021 reflected sustained growth in total assets, investments and deposits. However, gross advances recorded sluggish annual growth of 5.7 percent, relative to 15.7 percent growth in the same period of 2020. For the first half of 2021, New Advances totalled GH¢16.0 billion, marginally above the GH¢15.8 billion for same period in 2020. The overall weighted inflation expectations index declined in June 2021, on account of lower businesses and financial sector inflation expectations, despite the slight pick-up in consumer inflation expectations. On the whole, the Committee assessed that the risks to inflation and growth were broadly balanced and decided to keep the policy rate at 13.5 percent.

Source: GhanaWeb July 26, 2021 14:26 UTC