The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has kept its policy rate of 21 percent
According to the Central Bank Governor, Dr. Ernest Yedu Addison, the decision was influenced by threats to economic growth and stability.
The Governor, for instance, cited the recent increases in prices of petroleum products and pick up in government’s expenditure as one of the reasons for holding the rate.
The Monetary Policy rate often influences the cost of credit in the country and guides the prices of loans. This is the second rate hold for this year by the central bank.
The next MPC meeting is scheduled for November 24, this year which will conclude on November 27, with the announcement of the policy decision.