Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) for the fifth time, since January this year kept the lending rate to commercial banks at 16 per cent.
According to the committee’s assessment, latest forecast indicates that inflation will still remain within the target band of 8±2 over the forecast horizon, barring any unforeseen shocks.
Dr Ernest Addison, Governor of the Central Bank speaking to the media stated that risks to inflation outlook were broadly balanced, hence the Committee’s decision to maintain the policy rate at 16 percent while monitoring developments going forward.
The next Monetary Policy Committee (MPC) meeting is scheduled for January 22-24, 2020. The meeting will conclude on Monday, January 27, 2020 with announcement of the policy decision.