According to the Bank of Ghana's summary of economic and financial data, the average debit rate of commercial banks rose dramatically by 2.66% between April and June last year for 24.27%.

The performance observed in the first half of the year corresponds to an interest rate of 2% on loans per month. The average cost of borrowing, for its part, jumped from 20.1% last January to 24.2%. Similarly, the cost of loans increased slightly from 21.61% in April 2022 to 22.53% in May this year. On the other hand, the average loan rate, after experiencing a period of instability in the first quarter of 2021, fell consecutively until December 2021. Whether the cost of loans is stabilizing or increasing is still uncertain despite the fact that the key rate remained unchanged at 19% on July 25 last year.