US Edition28% BoG Policy Rate: Majority Of MPC Members Vote For Hike
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Policy rate hike comes at a wrong time; government must be financially disciplined
The Institute of Public Policy and Accountability (IPPA) believes the Bank of Ghana rushed in increasing its policy rate by 100 basis points to 28%. According to the policy think tank, though inflation remains high, above 20%, it has declined for two consecutive months, and therefore, the Monetary Policy Committee of the Bank of Ghana […] The post Policy rate hike comes at a wrong time; government must be financially disciplined – IPPA appeared …
28% BoG Policy Rate: Majority Of MPC Members Vote For Hike
Dr. Johnson Asiama Three out of five members of the Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) voted to increase the policy rate by 100 basis points, raising it from 27% to 28%, citing concerns over rising inflation. According to the central bank, the publication of the Monetary Policy Decision Statement is a significant step toward enhancing its monetary policy formulation process, anchored on the Inflation Targeting (IT) Fram…
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