Monetary Policy Committee meets next week

The Monetary Policy Committee of the Bank of Ghana is scheduled to meet on Friday January 24, 2002.

A statement issued by the Secretary of the Bank said the meeting would consider macro-economic developments and take a decision on the Bank of Ghana Prime Rate.

The Prime Rate is a benchmark against which the Central Bank provides funds to banks and financial institutions. It is usually set taking into cognizance the general economic outlook and prospects for inflations against set targets.

It is also the mark at which commercial banks set their lending rates.