This will be the second monetary policy announcement for the new governor of the Bank of Ghana, Dr. Abdul Nahir Issahaku, who personally assured Ghanaians that the inflation targets for 2016 would be achieved.
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Currently, the inflation rate for the month of June stands at 18.7%, way off of the targets for 2016, looking at the fact that a half of the year is already gone.
Apart from the inflation rate, other issues to be addressed by the Governor of the Bank of Ghana, is the passage of the Depositors’ Protection Bill, and how it will help sanitize operations of non-banking financial institutions going forward, and general protection of customers.
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Seeing as the monetary policy rate takes into account the performance of the local currency against other major currencies, the Governor of the Bank Ghana is expected to touch on the relative stability of the Ghana Cedi for the first half of the year, and how well it is likely to do in the next half of the 2016.
