Tag: Monetary Policy Committee
-
Banks well-positioned to survive sudden exchange rate depreciation — Dr. Addison
Governor of the Bank of Ghana, Dr. Ernest Addison has said that the bank’s latest rigorous assessment of the banking industry’s ability to withstand shocks has revealed that banks have additional capital and liquidity buffers in the event of shocks from exchange rate and interest rate movements. The local currency has depreciated by more than…
-
Bank of Ghana maintains policy rate at 16 percent
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…
-
Declining inflation to trigger lower policy rate (Article)
Inflation fell sharply to 10.3% in January. Headline inflation surprised when it fell sharply in January to 10.3%; year on year from 11.8% in December. This was well below our expectations for a marginal increase to 11.9%, largely owing to base effects. The deceleration in inflation will have been positively received by the Bank of…
-
BoG reduces policy rate again to 20%
The Bank of Ghana (BoG) has reduced the policy rate by 100 basis points from 21 percent to 20 percent. This was announced after the Monetary Policy Committee (MPC) finished its 79th meeting which is the final for 2017. This is the fourth reduction for this year by the Central Bank. By this, the policy…