BoG cuts policy rate to 16%

January 29, 2019

The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has reduced the policy rate by 100 basis points from 17 percent to 16 percent.

According to the committee, the decision was influenced by the positive trends on the international market as well as the domestic front.

For instance, core inflation has declined considerably over the months. It falls in line with the government’s target of 8 plus or minus 2 bands.

The Governor of the central bank, Dr. Ernest Addison, who announced the latest prime rate on Monday, 28 January 2018, said the rate of inflation was 15.4 percent as of the end of 2016, 11.8 percent in 2017 and 9.4 percent in 2018.

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