RADP / Pulse Ghana > business > domestic

Bank of Ghana maintains policy rate at 30%

September 25, 2023 1:12 PM

The Monetary Policy Committee of the Bank of Ghana (BoG) has maintained its policy rate to 30 percent in a bid to curb inflationary pressures.

Ernest Addison, Governor of the Bank of Ghana

The Central Bank highlighted that it remains committed to achieving price stability and anchoring inflation expectations.

Recommended articles

domestic Glovo to stop operating in Ghana effective May 10, cites profitability concerns

The Governor of the Central Bank, Dr. Ernest Addison said in the Committee's assessment risks to the inflation profile remain elevated driven by the second-round effects of food prices.

Speaking at a press briefing after the 114th Monetary Policy Committee (MPC) meetings held on Monday, September 25, 2023, Dr. Addison said the decision by the Central Bank to stay the policy rate is to quicken the path of disinflation on the back of underlying global pressures.

He said that given these considerations, the Committee decided to maintain the policy rate at 30 percent.

The Committee further indicated that while the expectation is for continued disinflation, it stands ready to respond appropriately should inflation deviate from this broad expectation.