The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) will announce its decision on monetary policy interest rates at 11:00 this morning.
Prior to this, the committee conducted a three-day deliberation to make recommendations on the development of central bank monetary policy.
The committee assessed the state of Ghana’s economy at the meeting and will in turn provide statistics, recommendations and necessary steps to formulate monetary policy.
The monetary policy interest rate announced today will arouse great interest from companies because it will affect loan interest rates and determine the central bank’s loan interest rates to commercial banks.
At the last 95th meeting in July this year, the Central Bank kept its monetary policy interest rate unchanged at 14.5%, and the Governor of the Central Bank, Dr. Ernest Addison, attributed the ruling to the economic disruption mainly caused by the COVID-19 pandemic. .
Due to the coronavirus outbreak, many companies have been greatly affected, and some of them have to close down due to the pandemic.
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