MPC holds 120th meeting from Sept. 24 – 27
The Monetary Policy Committee (MPC) of the Bank of Ghana will hold its 120th regular meeting from Tuesday, 24 September 2024, to Friday, 27 September 2024. The meetings will review developments in the economy.
The MPC will conclude with a press conference on Monday, 30 September 2024, to announce the Committee's decision.
At its last MPC meeting on 26 July 2024, the central bank kept the benchmark monetary policy rate steady at 29% for the third consecutive time, citing concerns about inflationary pressures due to strains on the currency.
Governor Ernest Addison noted that recent developments have resulted in a slightly elevated inflation profile for the year, with risks tilted slightly to the upside.
Ghana's inflation slowed slightly to 22.8% in June, down from 23.1% in May, but remains well above the central bank's target band of 6% to 10%.
The cedi has lost more than 5% of its value against the dollar since the MPC kept borrowing costs unchanged at its May meeting. This decline is driven by increased demand for dollars for imports and a drop in cocoa earnings.
Trending Business
Jospong Group and FIMA industries partner to drive sustainable development in Africa
16:29Gov’t spends ¢101.21bn in first half of the year – BoG report
12:29Gov’t bags GH¢74.65bn mid-year revenue – BoG report
12:25Banking sector liquid, profitable with improved buffers – BoG report
12:15NPLs increasing across all categories – BoG report
12:13Banks opting for less risky assets – BoG report
12:11Gov't releases GHS1.5bn to bailout customers of collapsed Gold Coast, Kron, other FMCs
10:52GOIL PLC and SMB inaugurate $40m African bitumen terminal in Ghana
10:47ECG’s non-compliance with revised cash waterfall mechanism raises concerns – PURC
01:38AETC 2025 to focus on revolutionized financing for sustainable energy in Africa
04:14