[ 2016-11-14 ]

MPC to announce Bank’s Policy rate next Monday
The Monetary Policy Committee (MPC) of the Bank of
Ghana will next week Monday, November 21 announce
its policy rate for commercial banks in the
country.

A release issued by the Monetary Policy Committee
said: “The Monetary Policy Committee (MPC) of
the Bank of Ghana will hold its 73rd regular
meeting on Friday November 18, 2016 to review
developments in the economy. The MPC meeting will
conclude with a press conference on Monday
November 21, 2016 to announce the decision of the
Committee on the appropriate positioning of the
Bank’s policy rate.”

The MPC has maintained the policy rate unchanged
at 26 percent for the fourth consecutive time this
year, at its last meeting in September.

Inflation for the month of October dipped to 15.8
percent from 17.2 percent recorded in September
this year.

The MPC despite this has indicated it is making
frantic efforts to meet its medium-term target
threshold of 8 percent plus or minus 2 by
mid-2017.

“The MPC decided to maintain the policy rate
while alluding to risks that may threaten the
inflation outlook over the forecast horizon. The
major risks were identified as unanticipated
shocks emanating from ex-pump petroleum prices and
utility tariff adjustments,” the MPC’s report
stated.

Source - Kasapafm

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