BoG maintains policy rate at 30%
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The Bank of Ghana has maintained the monetary policy rate at 30 per cent after reviewing developments in the economy.
This means that the lending rate in the country will remain steady.
It is the second time the Central Bank has held the rate in a year after doing the same in May 2023.
After the rate was hiked by 50 basis points in July due to inflationary pressures, the market turned towards policy rate retention on the back of the ease in inflation for the month of August.
Governor of the Bank of Ghana, Dr. Ernest Addison, while addressing the 114th Monetary Policy Committee meeting on Monday, September 25, 2023, said the decision by the Central Bank to stay the policy rate is to quicken the path of disinflation on the back of underlying global pressures.
ABOUT: Nana Kwesi Coomson
[email protected] An Entrepreneur, Corporate Social Responsibility, Corporate Communications Executive and Philanthropist. Editor-in-Chief of www.233times.com. A Senior Journalist with Ghanaian Chronicle Newspaper. An alumnus of Adisadel College where he read General Arts. His first degree is in Bachelor of Arts - Political Science (major) and History (minor) from the University of Ghana. He holds MSc in Corporate Social Responsibility (CSR) and Energy with Public Relations (PR) from the Robert Gordon University in the United Kingdom. He is a 2018 Mandela Washington Fellow who studied at Clark Atlanta University in USA on the Business and Entrepreneurship track.
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