MPC meeting begins on Tuesday

Accra, July 24, GNA - The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) begins its monthly meeting on Tuesday to review developments in the economy.

The MPC Meeting would also determine the prime rate for the coming month. The current prime rate is fixed at 14.5 per cent. A statement from the Bank of Ghana said the decision of the MPC, with respect to the Bank of Ghana prime rate, would be announced at a press conference on Monday, July 31, 2006.

The Oil Marketing Companies in consultation with the National Petroleum Authority last week announced between 10 per cent and 20 per cent increase in the prices of petroleum products.