Pulse.com.gh logo
Go


Monetary Policy Committee BoG maintains policy rate at 22%

The Bank of Ghana's Monetary Policy Committee fixes the rate at which banks do business

  • Published: , Refreshed:
Dr Henry Wampah — Governor, Bank of Ghana play

Dr Henry Wampah — Governor, Bank of Ghana

The Bank of Ghana has maintained its policy rate at 22 per cent.

This was announced on Wednesday, July 15 at the end of the Bank’s 65 regular meeting of its Monetary Policy Committee (MPC).

According to our reporter, the rate was maintained mainly as a result of continuous rise in inflation.

The inflation margin has been on a rise since the start of the year with the figure predicted to reach 17.1 per cent at the end of this month.

At the last MPC meeting in May, the Governor of the Central Bank, Dr. Henry Kofi Wampah, increased the policy rate by 100 basis points, suggesting then that exchange rate pass-through and a possible adjustment in energy and utility prices are what influenced the decision.

The same factors may have been taken into consideration especially with analysts fingering the appreciation of the local currency in the currency market.

Do you ever witness news or have a story that should be featured on Pulse Ghana?
Submit your stories, pictures and videos to us now via WhatsApp: +233507713497, Social Media @pulseghana: #PulseEyewitness & DM or Email: eyewitness@pulse.com.gh.

Recommended Articles

Recommended Videos




Top Articles

1 2018 Budget Review Prepare to pay 35% tax if you earn 10k and abovebullet
2 Taxes In Ghana Don't rejoice; VAT has been hiked through ‘backdoor’ –...bullet
3 2018 Budget Review Gov’t imposes tax on luxury vehiclesbullet
4 Menzgold Ghana Don't deposit money with Menzgold – BoG cautions...bullet
5 Kwabena Duffuor Official: Duffuor’s assets not being auctionedbullet
6 Economy Of Ghana Finance Minister presents mid-year budget...bullet
7 Investment banks in Ghana Top 5 investment banks in Ghana...bullet
8 Uche Ofodile Captain Planet’s wife heads MTN Liberiabullet
9 Education Top 5 private high schools in Ghana according...bullet
10 Taxes In Ghana There will be no increase in VAT –...bullet

Top Videos

1 Forbes 2018 Africa's billionaires rich listbullet
2 Money Alert Meet Africa's richest womanbullet
3 New Discovery Ghana discovers new mineral, lithium in commercial...bullet
4 Support Finance minister buys Kantanka carbullet
5 Dr Joseph Siaw Agyepong Nobody can collapse my company – JOSPONGbullet
6 Tech 6 reasons you should buy an iPhone SE instead of any of...bullet
7 Plane Crash Starbow suspends operations following plane crashbullet
8 New Phone Nokia’s MWC 2018 Event in Under 10 Minutesbullet
9 Bozoma Saint John 10 quotes from Uber top official,...bullet

Business