BoG Keeps Policy Rate At 16%; 6th Time Running

Janice Janice
Jan 31, 2020 - 21:46
0
BoG Keeps Policy Rate At 16%; 6th Time Running
Dr. Ernest Addison

 

 

Monetary Policy Committee of the Bank of Ghana (BoG) has kept the policy rate unchanged at 16 per cent. This is the sixth time the policy rate has been maintained at 16% since last year. 

 

Speaking to the media at a news conference Friday, the Governor of the Bank of Ghana, Dr Ernest Addison said the decision was as a result of some threats to the country’s economic growth and inflation outlook.

 

 

He said the current appreciation of the cedi in the first month of this year had to do with some monetary intervention by the Bank of Ghana and improved supply of dollars in the economy.

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