Business News of Monday, 26 July 2021Source: www.ghanaweb.comThe Bank of Ghana’s Monetary Policy Committee is set to announce its latest decision on a new policy rate today July 26, 2021. Governor of the Bank of Ghana who is also Chairperson of the Monetary Policy Committee is expected to make the announcement of the policy rate decision that will influence the cost of credit in the country for the next two months of this year. At the Committee's 100th meeting, the central bank slashed the policy rate by 100 basis point at 13.5 from 14.5 percent. “Risks to the inflation outlook remain muted in the near-term…the Monetary Policy Committee under these circumstances decided to lower the monetary policy rate by a hundred basis points to 13.5%,” the governor said. The monetary policy rate influences the interest rate on loans and determines the rate at which the central bank lends to commercial banks.

Source: GhanaWeb July 26, 2021 08:15 UTC