By: Franklin ASARE-DONKOH
The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has maintained the policy rate at 29.5 percent.
This is the first time in 2023 that the Central Bank is maintaining the key rate.
The Monetary Policy Rate, which is of keen interest to businesses, signals the rate at which the Central Bank will lend to commercial banks.
The Chairman of the MPC and Governor of Ghana’s Central Bank, Dr. Ernest Addison, addressing some media practitioners at a press conference held on Monday, May 22, 2023, explained that the stay of the rate is aimed at quickening the disinflation process.
According to business watchers, the cost of borrowing may marginally go down as the Monetary Policy Committee (MPC) of the Bank of Ghana has maintained the policy rate at 29.5 percent.
