MPC reduces policy rate to 27%

The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has reduced the policy rate from 29 percent to 27 percent.

At the 120th MPC press conference on Friday September 27, the chair of the committee Dr Ernest Addison said that the domestic economy continues to recover.

“Macroceconomic conditions have generally improved, growth picked up, headline inflation dropping, monetary conditions remain tight, disinflation process is on the course,” he said.

On that basis, the committee decided to lower the policy rate by 200 basis point to 27 percent.

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