BoG's MPC meets from today

The Monetary Policy Committee of the Bank of Ghana is scheduled to hold its 64th regular meeting from Monday, May 11.

The three-day meeting will announce a new monetary policy rate to set base lending rates for banks.

While most analysts believe the current policy rate of 21 per cent will be maintained, some stakeholders are calling for a reduction.

“The policy rate must come down,” demands the Chief Executive Officer of the Association of Ghana Industries (AGI), Seth Twum Akwaboah.

“Government treasury bill rates must come down. That is what we really wish,” Mr Akwaboah said on TV3.

The meeting will be chaired by Governor of the Central Bank Dr Henry Kofi Wampah.

He is expected to make the announcement of the new rate on Wednesday, May 13, when the meeting is scheduled to close.