{
  "id": 12807755,
  "title": "Average lending rate declined significantly to 15.9 % in August - Asiama",
  "url": "https://urgent.news/2026/10/08/average-lending-rate-declined-significantly-to-15-9-in-august-asiama",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-08T06:13:34.000Z",
  "source": {
    "name": "3News",
    "slug": "3news",
    "url": "https://3news.com/news/average-lending-rate-declined-significantly-to-15-9-in-august-asiama"
  },
  "original_language": "en",
  "account": "In August 2026, the average lending rate in Ghana decreased significantly to 15.9%, according to Bank of Ghana Governor Dr Johnson Pandit Asiama. This marked a substantial reduction from 24.2% in the same period in 2025. Asiama attributed this decline to the easing of domestic financial conditions and its impact on the credit market. The drop in lending rates, coupled with a lessening of banks' credit stance and a resurgence in credit demand, led to a robust recovery in private sector credit. Private sector credit surged by 35.5% in August 2026, up from 13.3% a year prior. Real credit growth was an impressive 29.0%, compared to just 1.7% over the same period in 2025. Asiama expressed particular satisfaction with the banking sector's resilience, noting that total assets in the sector grew, driven by strong deposit inflows and increased funding sources. The banking sector remains well-capitalized, with improved asset quality, reflecting the banks' efforts to strengthen their balance sheets and bolster economic activity. Asiama also commended the external sector for its ongoing resilience, citing a trade surplus of US$8.85 billion in the first eight months of 2026, compared to US$6.69 billion in the same period the previous year. As of 22 September 2026, gross international reserves stood at US$12.0 billion, providing four and a half months of import cover. This reserve position has benefited from enhanced gold export receipts, even with higher external payments.",
  "summary": "The average lending rate of the banking sector declined significantly to 15.9 percent in August 2026, from 24.2 percent recorded in the corresponding period of 2025.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}