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25.11.2019 Business & Finance

BoG Maintains Policy Rate At 16% For The 5th Time

By News Desk
BoG Maintains Policy Rate At 16% For The 5th Time
NOV 25, 2019 BUSINESS & FINANCE

Monetary Policy Committee of the Bank of Ghana (BoG) has kept the policy rate unchanged at 16% again.

Speaking to the media at a news conference on Monday, the Governor of the Bank of Ghana, Dr Ernest Addison said the decision was as a result of some threats to the country’s economic growth and inflation outlook.

Dr Addison added that threats to inflation is broadly balanced hence the need to maintain the policy rate at 16 per cent

This is the fifth time this year that the Bank of Ghana has kept its rate unchanged; since January this year.

The development is expected to have little impact on the cost of credit reducing significantly.

More soon….

---JoyBusiness

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