The Bank of Ghana (BoG) has commenced its 121st Monetary Policy Meeting, taking place from November 20 to November 22, 2024, to review the state of the economy and assess inflation trends.
This meeting follows the BoG’s recent reduction of the Monetary Policy Rate to 27%, a second rate cut since 2021, aimed at easing borrowing costs and supporting economic activity.
The rate, previously held at 29% for nine months, was lowered from an initial 30% set in January 2024.
Observers anticipate that the central bank may implement further rate reductions to foster a more conducive business environment as the year concludes. The updated Monetary Policy Rate is expected to be announced on November 25, 2024.
