Hidden Bibliographic Details
| Other authors / contributors: | International Monetary Fund. African Department, issuing body.
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| ISBN: | 1283566168
9781283566162
9781463974404
146397440X
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| Notes: | At head of title: African Department.
Title from PDF title page (IMF Web site, viewed November 23, 2011).
"November 2011."
Includes bibliographical references.
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| Summary: | This paper analyzes interest rate pass-through in Ghana. Time series and bank-specific data are utilized to highlight linkages between policy, wholesale market, and retail market interest rates. Our analysis shows that responses to changes in the policy interest rate are gradual in the wholesale market. Prolonged deviation in the interbank interest rate from the prime rate illustrate the challenges the Bank of Ghana faces when targeting a short-term money market interest rate. Asymmetries in the wholesale market adjustment possibly relate to monetary policy signaling, weak policy credibility, and liquidity management. In the retail market, pass-through to deposit and lending interest rates is protracted and incomplete.
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| Other form: | Print version: Kovanen, Arto. Monetary Policy Transmission in Ghana: Does the Interest Rate Channel Work? Washington : International Monetary Fund, ©2011 9781463925314
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