By Franklin ASARE-DONKOH
The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) says its observation has revealed a broad improvement in Ghana’s economy.
The Chair of the MPC, who doubles as the Governor of the Central Bank, Dr Ernest Addison assured that the committee would further take steps to maintain the recovery.
As part of efforts to maintain the recovery and experience more of it, the Committee has decided to keep the policy rate at 30 percent.
Dr. Addison while addressing the 115th MPC press conference in Accra on Monday, November 27, 2023, stated “The committee has decided to maintain the policy rate at 30 percent until inflation is firmly anchored on a downward trend,” he said.
He further explained that the committee decided to keep the policy rate at 30 percent because although the inflation rate is dropping, it is still high.
The inflation rate for the month of October 2023 dropped to 35.2 percent, the Government Statistician Professor Samuel Annim has announced.
The new rate was 38.1 percent in September 2023.
