BoG Policy Rate Remains Unchanged

The Bank of Ghana (BoG) has maintained the monetary policy rate at 14.5 percent.

Governor of the Central Bank, Dr Ernest Addison, made this known at the 96th Monetary Policy Committee’s press release.

According to the release, in taking the decision, the Committee noted that the sustained level in consumer and business confidence, and improvement in the CIEA indicators are all supportive of positive growth conditions in the outlook.

The release indicated that headline inflation declined marginally, supported by the easing of Covid-related food price pressures and continued stability in the exchange rate.

It added that “underlying inflation and inflation expectations are gradually easing.”

The release highlighted that the latest inflation forecast shows a somewhat improved unanticipated shocks, inflation should return to the medium-term target by the second quarter of 2021.

By Melvin Tarlue

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