Business News of Wednesday, 22 September 2021Source: thebftonline.comAnalysts are projecting the Monetary Policy Committee (MPC) of the Bank of Ghana to maintain the policy rate at 13.5% given the risk to recovery as well as the current drivers of inflation. Senior Economist with Databank – asset management company – Courage Kingsley Martey said in an interview with the B&FT that the market is anticipating the BoG to keep the policy rate unchanged at the current level of 13.5%. This is not good for economic recovery if it continues,” Martey said. Currently, the BoG is confronted with the view that the drivers of inflation are cost-push and structural factors, which are not immediately within the reach of monetary policy, unlike demand-side forces. So, we expect the BOG to keep the policy rate unchanged.”Sharing his projection to B&FT in an interview, Senior Investment Analyst at OctaneDC Limited, Kwadwo Acheampong said giving the central bank’s aim of reducing average interest rate, it is unlikely that the bank will consider revising the Monetary Policy Rate (MPR) upwards.

Source: GhanaWeb September 22, 2021 04:07 UTC