The Monetary Policy Committee of the Bank of Ghana has maintained the Policy Rate at 27 percent.
This was announced by the Chairman of the Committee and Governor of the Bank of Ghana, Dr. Ernest Addison during the 122nd, MPC press conference in Accra.
Addressing the press, Dr Ernest Addison highlighted improved macroeconomic conditions in global and the domestic economy as the major factors considered in the decision to maintain the monetary policy rate.
He also cited improved customer and investor confidence in the economy and banking sector as part of reasons for the banks decision.
Consequently, Dr Addison said global financial conditions are expected to ease gradually as policy stances become more accommodative and inflation targets in Advanced Economies are met and expectations anchored.
Dr. Ernest Addison says the Central Bank is yet to hold discussions on measures to combat the rise in inflation witnessed in the last quarter of 2024.
He is confident Ghana can still achieve a single digit inflation by 2026, if the policies of the current government will support measures at promoting economic growth.
Dr. Addison said supervisory activities of the central bank will be intensified to further bolster confidence in the banking sector and the economy.
He is confident the improvement in Global economic conditions, which has led to easing MPC stances across the world will continue steadily.
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