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Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.
The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has unanimously decided to maintain the Monetary Policy Rate (MPR) at 14 percent, citing rising external risks to inflation despite continued strength in the domestic economy.
Announcing the decision at the conclusion of the 131st MPC meeting, the Committee said recent inflation developments remain broadly in line with its forecasts, although headline inflation increased in June due mainly to temporary factors.
According to the MPC, inflation has edged closer to the lower bound of the Bank’s medium-term target range, driven largely by base effects.
While inflation expectations and core inflation have risen, they remain broadly anchored within the target band.
Source: newsthemegh.com