BoG maintains 14.5% policy rate

The Monetary Policy Committee of the Bank of Ghana has decided to maintain the monetary policy rate at 14.5 per cent.

This decision was taken at its 95th meeting, which began last Tuesday.

Addressing journalists on Monday, July 27, the Governor of the Central Bank, Dr Ernest Yedu Addison, said the decision was arrived at due to the “current extraordinary circumstances” posed by the coronavirus global pandemic.

The circumstances, he noted, has brought widened budget deficit and a residual financial gap.

He said the circumstances will, thus, require “some monetary restraint to preserve the anchors of macroeconomic stability”.

“In the circumstances, the Committee decided to maintain the policy rate at 14.5 per cent.”

The next meeting has been scheduled to be held September 22-25.

Source: 3news.com|Ghana

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