The Bank of Ghana’s Monetary Policy Committee (MPC) has maintained the policy rate at 26% after the conclusion of its 70th regular meeting.
The Governor of Bank of Ghana, Dr. Abdul Nasiru Issahaku, at a news conference yesterday, explained that per the current economic recovery in the country, the bank decided to maintain it policy rate at 26 per cent to help ease its tightenings on the monetary stance to foster further economic growth in the country.
He added that, the policy rate maintained at 26% is very appropriate since inflation level remain above the medium-term target band of 8±2 percent
“In assessing the current economic conditions, the Committee views the risks to inflation and growth as balanced and therefore decided to maintain the monetary policy rate at 26 percent.” he said
This is the second time this year that the central bank has maintained the rate at 26 per cent.