BoG keeps policy rate at 17%

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The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has maintained the Policy Rate at 17 per cent for the fourth consecutive time in 2018.

The Governor of the BoG and Chairman of the MPC, Dr. Ernest Addison, told journalists in Accra on Monday, 26 November 2018 that they held the rate at 17 per cent due to developments on the world market as well as rising global inflation and price volatility of the various trading commodities.

He added that movements on the domestic market reflect positive trends.

“On the circumstances, the Committee decided to maintain the Policy Rate at 17 per cent,” he noted.

In September, the BoG said threats of economic growth and inflation were taken into consideration in maintaining the policy rate.

In July when the BoG maintained the rate, it attributed it to happenings on the international and domestic front.

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An Entrepreneur and Philanthropist. Editor-in-Chief of www.233times.com. A Senior Journalist with Ghanaian Chronicle Newspaper. An alumnus of Adisadel College where he read General Arts. He holds first degree in Bachelor of Arts from the University of Ghana; Political Science (major) and History (minor). He has also pursued MSc Corporate Social Responsibility (CSR) and Energy with Public Relations (PR) at the Robert Gordon University in the United Kingdom. He is a 2018 Mandela Washington Fellow (YALI) who studied at Clark Atlanta University on the Business and Entrepreneurship track. His mentors are Rupert Murdoch, Warren Buffet, Sam Jonah, Kwaku Sakyi Addo and Piers Morgan

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