Business News Mon, 27 May 2019

BoG maintains policy for the second time at 16%

The monetary policy committee of the Bank of Ghana has maintained the policy rate for the second time at 16%.

Governor of the central bank, Dr. Ernest Addison attributed the decision to threats posed by energy related debt and weak inflation outlook triggered by exchange rate volatility.

The bank’s key lending rate to commercial banks was first reduced from 17 per cent to 16 per cent on January 28 this year. The rate was maintained on April 1.

Source: 3news.com