Governor of the Bank of Ghana, Dr. Ernest Addison and Chairman of the MPC
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The Bank of Ghana Monetary Policy Committee (MPC) will on July 25, 2022 announce its decision taken on the policy rate for the next three months of the year.
This comes
Read full articleafter the Committee held its 107th scheduled meeting of the year to review economic developments in the country from Wednesday, July 20 to Friday, July 22.
Ahead of the policy rate announcement, some economists and market watchers have called for an upward review of the policy rate from its current rate of 19 percent – a move they believe will respond to soaring inflation figures in the country.
For instance, the Institute of Economic Affairs (IEA) has entreated the central bank to increase the policy rate by either 100 basis points or 150 basis points.
This means, they believe the policy rate should move to 20 percent or 20.5 percent.
The Institute further suggests that an adjustment of policy rate will restore calm in markets as inflation for June reached 29.8 percent according to the Ghana Statistical Service.
Meanwhile, BoG Governor, Dr. Ernest Addison who is also Chairman of the MPC will announce the decision taken at a press conference in Accra.
Governor of the Bank of Ghana, Dr. Ernest Addison and Chairman of the MPC
