MPC Archives - Wontumi Online

11 Mar

MPC Begins Meetings Next Week: Will Policy Rate Stay Or Increase?

wontumionlineBusinessMPC, policy rate

The Monetary Policy Committee (MPC) of the Bank of Ghana will hold its 117th Regular Meeting from Wednesday, March 20, 2024, to Friday, March 22, 2024, to review developments in the economy. According to a notice posted on the bank’s website, the meetings will conclude with a press conference on Monday, March 25, 2024, to announce the decision of the committee. A key consideration will be the monetary policy rate which is currently pegged at 29 per cent having been reduced by 100 basis points from 30 per cent. The bank, in explaining its decision for reducing the policy rate,…

27 Mar

Average Lending Rates Shoot Up Marginally To 36.64% – BoG

wontumionlineBusinessAverage lending rates, BoG, MPC

Average lending rates shot up marginally to 36.64% in February 2023, from 35.58% recorded in December 2022, data from the Bank of Ghana has revealed. This is equivalent to 3.02% interest rate on loans per month. In January 2023, the average cost of borrowing stood at 35.85%. With the Monetary Policy Committee of the Bank of Ghana expected to announce developments in the Ghanaian economy today March 27, 2023, particularly its key lending rate – Policy rate, it is expected that the policy rate will remain unchanged for the next two and half months. This will keep lending rates still…

06 Jan

MPC Likely To Hike Policy Rate To Control Inflation – Economist

wontumionlineBusinessDr. Patrick Asuming, MPC

As the Monetary Policy Committee of the Bank of Ghana prepares to begin its quarterly meeting to review developments in the Ghanaian economy, Economist Dr. Patrick Asuming has predicted that the committee is likely to hike the policy rate. Currently, the policy rate is at 27%, while November 2022 inflation stood at 50.3%. The MPC is expected to have its first meeting for 2023, from Tuesday, January 24, to Friday, January 27 to review developments in the economy. Already, Fitch Solutions is projecting a 200 basis points increase in the policy rate in 2023 to 29%. Speaking to Joy Business,…

05 Jan

BoG To Hold 2023 First MPC Meeting Later In January 2023

wontumionlineBusinessBoG, Dr. Ernest Addison, MPC

The Bank of Ghana has announced that it will hold its first Monetary Policy Committee (MPC) meeting for 2023 from Tuesday, January 24, to Friday, January 27 to review developments in the economy. The meeting, which will be the 110th is expected to heavily discuss Ghana’s high inflation rate which stands at 50.3 percent, the highest in 27 years. Also, the committee will use the meeting to decide whether to hike the policy rate, maintain it, or reduce it. “The meetings will conclude with a press conference on Monday, January 30, 2023 to announce the decision of the Committee”, a short…