BoG maintains policy rate at 26%

BoG maintains policy rate at 26%

The Bank of Ghana has maintained the policy rate at 26%. The latest rate was announce at a Monetary Policy Committee (MPC) meeting in Accra Monday.

BoG maintains policy rate at 26%

The May 2016 edition of the Monetary Policy report

According to the MPC the policy rate only shows the rate at which the central bank lends to the commercial banks.

The MPC said the latest forecast reinforces the earlier forecasts that inflation will gradually decline from the second-quarter towards the target band by mid-2017, barring any unanticipated shocks.

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In an interaction with journalist for the first time, governor of the BoG, Dr Abdul Nashiru Issahaku noted that the policy rate has been maintained again because of stability in the energy supply as well as the stability of the local currency - the Ghana Cedi.

I don’t need to say, the recent Association of Ghana Industry Barometer even proves that confidence in the economy is on the rise,” he said.

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