Ghana Reference Rate drops to 10.18% in September, could ease borrowing costs

The Ghana Reference Rate (GRR), the benchmark used by commercial banks to price loans, has dropped marginally from 10.

Introduced in 2017 by the Bank of Ghana in collaboration with the Ghana Association of Banks, the Ghana Reference Rate was designed to provide a transparent and uniform benchmark for determining lending rates across Ghana’s banking sector.8856%, while the interbank rate declined from 10.