Prime News Ghana

BoG maintains policy rate at 30%

By Vincent Ashitey
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Monetary Policy Committee of the Bank of Ghana (BoG) has kept the policy rate unchanged at 30 percent.

Governor of the Bank of Ghana, Dr. Ernest Addison said the decision by the Central Bank to stay the policy rate is to quicken the path of disinflation on the back of underlying global pressures.

The Governor was speaking at a press briefing after the 114th MPC meeting on Monday, September 25, 2023,

This is the second time this year that the Bank of Ghana has kept its rate unchanged since May 2003.

After the rate was hiked by 50 basis points in July due to inflationary pressures, the market turned towards policy rate retention on the back of the ease in inflation for the month of August.