Business News of Tuesday, 27 July 2021Source: www.ghanaweb.com•The central bank of Ghana has decided to keep its monetary policy rate unchanged at 13.5%•The bank cited an increase in the public debt stock and inflation as its reasons•It added that its decision was influenced by threats of a third wave of COVID-19 infections which is likely to impact on economic recovery and outlookThe Bank of Ghana’s Monetary Policy Committee has kept its policy rate unchanged at 13.5% citing an increase in public debt stock and inflation. This comes after the Committee concluded its scheduled meetings from July 21 to July 23 to review economic developments of the country. A statement issued by the central bank on Monday July 26, 2021, explained the decision was influenced by threats to the current economic recovery and outlook as a result of a third wave of COVID-19 infections. The latest forecast remains broadly unchanged with inflation projected to remain within band and around the central path in the forecast horizon barring any upside risks from fiscal pressures. On the whole, the Committee assessed that the risks to inflation and growth were broadly balanced and decided to keep the policy rate at 13.5 percent,” the central banks statement read.

Source: GhanaWeb July 27, 2021 07:52 UTC