(2 Minutes Read)
The Monetary Policy Committee (MPC) of the Bank of Ghana, has reduced the policy rate by 350 basis points to 18.0 per cent.
In addition to the policy rate reduction, the Bank will return to the use of the 14-day bill as its main instrument for conducting Open Market Operations. The decision to reduce the policy rate was due to improvement in the country’s overall macroeconomic conditions.
Read Also:
https://trendsnafrica.com/ghana-set-to-bring-down-interest-rates/
Dr Johnson Asiama, the Governor of the Bank of Ghana, announced this in Accra at the 127th MPC press conference. He said the Committee would continue to monitor developments and take the appropriate policy decisions to ensure sound and stable macroeconomic conditions. The MPC evaluated recent economic developments and assessed risks to the outlook for inflation and growth.