Governor of the Bank of Ghana, Dr. Ernest Addison
• The policy rate was kept unchanged at 13.5% in September 2021
• Ghana’s public debt stock has been rising
• The MPC will at its sixth and final meeting of 2021
The Bank of Ghana’s Monetary Policy Committee will from today Tuesday November 16 to Friday November 19, 2021, commence its scheduled meetings to review the economic developments of the country.
The 103rd meeting of the Committee which will be its sixth and final for the year is expected to entail the initiation of proposals for the formulation of the policies of the central bank, provision of statistical data and economic advice.
Governor of the Bank of Ghana, Dr. Ernest Addison, who is also Chairperson of the Monetary Policy Committee, is expected to make decisions that will influence the cost of credit in the country for the remaining months of 2021.
Among such decisions will be a review or maintenance of the monetary policy rate which was at the central bank’s 102nd meeting, kept unchanged at 13.5 percent citing an increase in public debt stock and inflation risks.
A circular issued by the BoG on November 9, 2021 said the MPC following its four-day meeting will announce its decision taken on November 22, 2021 at a press conference.
The monetary policy rate which is of keen interest to businesses and the private sector influences the interest rate on loans and determines the rate at which the central bank lends to commercial banks.
See the circular below:
