- Losses in GGBL, MTNGH and CAL resulted in declines on the two major indices, with the GSE-CI closing at 1,806.94 points and the GSE-FSI ending the week at 1,622.81 points.
- Last week’s treasury auction closed with a success rate of 95.80%, with issuances across all Treasury Bill tenors as well as a 3-Year Bond issuance.
ECONOMIC SCOOP
Bank of Ghana (BoG) maintains policy rate at 14.50%
- On account of a steady recovery in economic activity and easing in inflationary pressures in Q3 2020 the BoG has maintained the policy rate at 14.50% p.a.
- The BoG Composite Index of Economic Activity (CIEA) which witnessed contraction during Q2 2020 recorded a rebound in Q3 2020, closing the quarter with 10.50% y/y rise in September.
- However, Government continues to face limited fiscal space for the next couple of quarters as debt-to-GDP ratio reached 71% in October 2020.
