Inflation stability testament of BOG's good fiscal policy-Dr. Issahaku

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August 1, 2016 1:39 PM

Dr. Issahaku added that growth prospects for the second half of 2016 is bright.

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Governor of the Bank of Ghana, Dr. Abdul-Nashiru Issahaku has lauded the decline in the country’s inflation rate as testament to the Bank of Ghana’s efficient fiscal policies.

Inflation declined from 19.2% in May to 18.4% in June, 2016.

According to Dr. Issahaku, “The BoG is conducting policy in a way to bring inflation to its medium-term target of eight per cent, though it will tolerate inflation fluctuations of plus/minus two percentage points from the target’s mid-point”, in an address at the University of Development Studies in Tamale, over the weekend.

“Growth prospects for the rest of the year would be impacted positively by the stability in the foreign exchange market and the continued improvement in consumer and business sentiments, among others.” He said: “In the first six months this year, volatilities in the foreign exchange market subsided significantly alongside relative stability in the local currency, largely supported by tight policy stance and improved foreign exchange inflows.”

The BoG has contributed to the construction of a 16-lecture hall block for UDS that could accommodate various class sizes – a 60 seating capacity and a 250 seating capacity.

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