BoG to announce new Monetary Policy rate on November 25

The Bank of Ghana (BoG) has started its regular Monetary Policy Meetings from November 20 to 22, 2024, to assess the economy. The 121st meeting will primarily focus on current inflation levels and broader economic conditions.

In its previous meeting, the BoG lowered the Monetary Policy Rate (MPR) to 27%, marking the second rate cut since 2021, following a period of high inflation. Before this, the MPR had been held at 29% for nine months.

This recent rate reduction is intended to provide relief to borrowers and improve the business environment. The central bank is expected to announce the updated MPR on November 25, 2024.