Monetary Policy Committee meeting to concentrate on sustaining cedi

Sustaining the Ghana cedi’s appreciation witnessed over the past weeks would dominate meetings of the Monetary Policy Committee of the Bank of Ghana today.

The committee would be looking at measures that would help sustain the gains made by the cedi so far.

The Ghana cedi over the past weeks has appreciated against the dollar by some 22 percent, the biggest appreciation in recent times.

The Ghana cedi this morning traded among some commercial banks at around 3 Ghana cedis 46 pesewas (3.46p).

There are predictions it will drop to 2 Ghana cedis 70 pesewas (2.70p) by next month.

The committee will also review its policy rate which stands at 22 percent and is likely to influence interest charged on loans.

However some analysts Joy Business have spoken to say the rate is likely to be maintained.