Economist, Adu Owusu Sakodie, has suggested that the Bank of Ghana extends its interventions introduced three months ago to support businesses in the wake of the coronavirus pandemic. The central bank reduced its policy rate which triggered a drop in interest rate among commercial banks to cushion businesses. In March this year, the Monetary Policy Committee of the Bank of Ghana reduced its policy rate by 150 basis points; from 16 to 14.5%. Among the reasons that triggered this reduction was the fact that the coronavirus pandemic has impacted economic growth, leaving economic managers uncertain about the future. This move subsequently led to about 2% drop in interest rate for most commercial banks. Learn more about your ad choices. Visit megaphone.fm/adchoices