Second MPC meeting takes off today

Monday 31st March , 2014 11:26 am

bank of ghanaThe Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) will today commence its second meeting for this year.

The free fall of the cedi forced the Bank of Ghana to hold its first Monetary Policy Committee meeting earlier than the scheduled date last month.

This week’s meeting which will be the 60th meeting will review developments in the economy.

It is also expected that the committee will discuss and analyze whether new and revised measures it introduced in February to stop the cedi from further fall has yielded the expected results.

It is also expected the bank may review the rules based on its findings.

Meanwhile stakeholders in various sectors of the economy have called on the bank to review the rules.

Early on the IMF’s representative in Ghana Samir Jahjah told Citi Business News the central bank would have to listen to concerns raised and look at reviewing them.

The meeting will be concluded with a press conference on Wednesday 2nd April, 2014 to announce the decision of the Committee on the appropriate positioning of the Bank’s policy rate.

The BoG’s current policy rate stands at 18%.

By:  Vivian Kai Mensah/