The Monetary Policy Committee of the Bank of Ghana (BoG) is set to announce its decision on the policy rate which will influence the cost of lending for the next two months of the year.
At the first MPC meeting of 2024 held in January, the Bank of Ghana cut the policy rate by 100 basis points from 30 percent to 29 percent.
The decision by the Central Bank was based on core inflation figures easing downwards while several factors have supported the disinflation process.
Bank of Ghana Governor, Dr Ernest Addison speaking with journalists at the 116th MPC press briefing said recent forecast suggests that the disinflation process will continue.
He also added that headline inflation is expected to ease to around 13-17 percent by the end of 2024, before gradually trending back to within the medium-term target range of 6-10 percent by 2025.
At the 117th meeting, the MPC deliberated on the initiation of proposals for the formulation of the central banks’ policies, provision of statistical data, and economic advice.
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Source: www.ghanaweb.com
