Monetary Policy Committee
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Monetary Policy Committee cuts policy rate to 29.0%

January 29, 2024 The Monetary Policy Committee of the Bank of Ghana (BoG) has cut its key lending rate to 29.0% from 30% in line with most analysts expectations. The Chairman of the committee, Dr. Ernest...

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January 29, 2024 / Comments (0)

BoG keeps policy rate unchanged at 29.5%; cost of loans to remain high

May 23, 2023 The Monetary Policy Committee (MPC) of the Bank of Ghana has kept its policy rate unchanged at 29.5%. It cited a slowdown in inflation as the main reason to the unchanged rate, which is the...

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May 23, 2023 / Comments (0)

BoG to continue with policy rate hikes to fast track inflation decline

May 10, 2023 The Bank of Ghana (BoG) has indicated that it may hike again the monetary policy rate to help bring inflation down faster. The Central Bank argued that “the current inflation rate remains...

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May 10, 2023 / Comments (0)

BoG raises policy rate to 19%

May 26, 2022 The Monetary Policy Committee of the Bank of Ghana has raised the policy rate by 200 basis points to 19 percent. At a press briefing, the central bank said: “In sum, the Committee...

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May 26, 2022 / Comments (0)

Bank of Ghana increases policy rate to 17%

March 21, 2022 The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has increased the policy rate by 250 basis points to 17 percent. This is the first time the Central Bank has increased the key...

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March 21, 2022 / Comments (0)

Fuel price set to cross GH¢10 per litre

March 16, 2022 Fuel prices are set to cross the GH¢10 per litre mark this week after the depreciating cedi and rising crude oil prices sustained increments in ex-pump prices since November last year....

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March 16, 2022 / Comments (0)

Be patient with central banks in the Covid recovery process – IMF to policymakers

December 8, 2021 The International Monetary Fund (IMF) has urged policymakers around the globe to be patient with their central banks as they work to bring back inflation to the levels they were during the...

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December 8, 2021 / Comments (0)

BoG maintains policy rate at 13.5% for third time

September 28, 2021 The Monetary Policy Committee of the Bank of Ghana (BoG) has maintained the policy rate at 13.5%. The policy rate is the rate at which the Central Bank lends to commercial banks in the...

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September 28, 2021 / Comments (0)

Banks’ taste for gov’t bills over private sector lending worrying-BoG

August 3, 2021 …as it fears it can affect recovery efforts The Monetary Policy Committee (MPC) of the Bank of Ghana has expressed discontent over the declining growth in lending to the private sector...

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August 3, 2021 / Comments (0)

Sub-20% interest rates needed for businesses to be competitive – GUTA

June 2, 2021 President of the Ghana Union of Traders Association (GUTA), Dr. Joseph Obeng says until interest rates on loans drop below the 20 percent mark, the recent reduction in the monetary policy...

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June 2, 2021 / Comments (0)