{"id":272792,"date":"2024-12-30T10:40:21","date_gmt":"2024-12-30T10:40:21","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/12\/30\/bog-likely-to-trigger-mpcc-if-inflation-falls-outside-central-target-of-18-0-2-report\/"},"modified":"2024-12-30T10:40:21","modified_gmt":"2024-12-30T10:40:21","slug":"bog-likely-to-trigger-mpcc-if-inflation-falls-outside-central-target-of-18-0-2-report","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/12\/30\/bog-likely-to-trigger-mpcc-if-inflation-falls-outside-central-target-of-18-0-2-report\/","title":{"rendered":"BoG likely to trigger MPCC if inflation falls outside central target of 18.0%+\/-2 &#8211; Report"},"content":{"rendered":"<br><div id=\"article-text\">\n                       \n                        \n<p class=\"wp-block-paragraph\">The Bank of Ghana is likely to trigger the Monetary Policy Consultation Clause (MPCC) if the country misses the central target of 18.0%+\/-2.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Inflation reached 23% in November 2024 and may go up marginally in December 2024.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to the Monetary Policy Consultation Clause (MPCC) for Ghana\u2019s ongoing International Monetary Fund programme, if actual inflation falls outside the lower or upper outer bands for the test dates, the MPCC will be triggered.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This will involve discussions with the IMF Board with proposed remedial actions to be implemented by the Ghanaian authorities.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cGiven the revised central target of 18.0%, we estimate the upper outer band at 22.0%, above which the authorities would have to trigger the MPCC\u201d, IC Research said in its macroeconomic update.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cWith the risk of overshooting the upper outer band, which would trigger the MPCC, we believe the Bank of Ghana opted for the aggressive FX [foreign exchange] sales to ensure a favourable pass-through of FX appreciation and contain inflation below 22.0% by end-2024\u201d, it stated.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Ghana\u2019s Consumer Price Inflation sustained its upsurge in November 2024 as the relentless climb in food inflation outweighed the modest decline in non-food inflation, fanning the price pressure.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Headline inflation quickened by 90 basis points to 23.0% year-on-year, against analysts expectation for a modest decline in November 2024.<\/p>\n\n                <p><strong>DISCLAIMER: <\/strong>The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.<\/p>      \n               \n <!-- Post Tags -->\n                \n\n                        \n\n    \n                                 \n                                             \n                    <\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Bank of Ghana is likely to trigger the Monetary Policy Consultation Clause (MPCC) if the country misses the central target of 18.0%+\/-2. Inflation reached 23% in November 2024 and may go up marginally in December 2024. According to the Monetary Policy Consultation Clause (MPCC) for Ghana\u2019s ongoing International Monetary Fund programme, if actual inflation [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":272793,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[],"class_list":["post-272792","post","type-post","status-publish","format-standard","has-post-thumbnail","category-top-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>BoG likely to trigger MPCC if inflation falls outside central target of 18.0%+\/-2 - Report - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/12\/30\/bog-likely-to-trigger-mpcc-if-inflation-falls-outside-central-target-of-18-0-2-report\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BoG likely to trigger MPCC if inflation falls outside central target of 18.0%+\/-2 - Report - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"The Bank of Ghana is likely to trigger the Monetary Policy Consultation Clause (MPCC) if the country misses the central target of 18.0%+\/-2. Inflation reached 23% in November 2024 and may go up marginally in December 2024. 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