The BoG’s Monetary Policy Committee (MPC) has decided to keep the policy rate at 29.5 per cent.
The Central Bank hasn’t maintained the key rate since 2023 until now.
The Central Bank’s rate of lending to commercial banks is indicated by the Monetary Policy Rate, which is of great relevance to businesses.
At a news conference held on Monday, May 22, 2023, Dr Ernest Addison, the Governor of Ghana’s Central Bank and Chairman of the MPC addressed a few members of the media and explained that the rate’s stay is intended to hasten the disinflation process.
Business observers believe that since the Bank of Ghana’s Monetary Policy Committee (MPC) has kept the policy rate at 29.5 per cent, borrowing costs may slightly decrease.
