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 10.61% in August to 10.18% in September 2026.
In September 2026, Ghana's Reference Rate (GRR) dipped slightly to 10.18% from 10.61% in August, indicating a potential easing of borrowing costs, according to the latest calculations by JOYBUSINESS. The reduction, driven by lower Treasury bill and interbank rates, could benefit borrowers with variable-rate loans but would not affect those with fixed-rate loans.
The Bank of Ghana's Monetary Policy Rate remained constant during this period. Introduced in 2017, the GRR is a benchmark used by commercial banks to price loans across the industry, calculated using Treasury bill rates, interbank rates, and the Monetary Policy Rate.
Written by urgent.news from Joy Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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