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    BoG cautions against use of Ghana Cedi for bouquets and hampers

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    DBG partners UGBS to deepen development finance

    GH¢5.5bn approved by Parliament not only for Blackshield customers – SEC

    BoG assures of enhanced educational campaigns to ensure proper handling of local currency

    Youth in Accountable Governance calls for passage of outstanding revenue bills

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    IES predicts drop in fuel prices from April 1

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    Bank of Ghana increases Monetary Policy rate to 29.5%

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    It’s time to give women top posts in multilateral institutions – GCBL Chairman 

    Global Chamber of business leaders enters into partnership with IEFS

    Gold for Oil policy will save Ghana $4.8bn annually – Veep

    Energy Minister scheduled to speak on Ghana’s near-term opportunities at NAEPEC 2023

    Standard Chartered appoints Ebenezer Twum Asante as Chairman of Board of Directors

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    Huawei Equips 500 Traders in FinTech

    Africans urged to bolster adoption of Bitcoins

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    African Union adopts Africa Prosperity Dialogues AfCFTA action plan

    Third World Network Africa urges Africans to be strategic about AfCFTA

    5 important things to know about the African Continental Free Trade Area agreement

    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

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Bank of Ghana maintains policy rate at 16 percent

bycitibusinessnews
May 27, 2019
in Banking And Finance
Dr. Ernest Addison

Dr. Ernest Addison

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The Monetary Policy Committee of the Bank of Ghana has voted to maintain its policy rate for the second time running citing inflationary pressures that must be controlled.

Speaking at the MPC press briefing on Monday, Dr. Ernest Addison said the MPC’s decision became necessary to sustain the gains the committee had made over the past two or so years.

He mentioned that the exchange rate performance since the beginning of the year put pressure on the prices of goods and services and the BoG’s decision was to keep its rate unchanged to ensure that inflation does not inch up further.

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April’s inflation rose to 9.5 percent, the third month since the beginning of the year that consumer prices have gone up.

 

 

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