The meeting is expected to entail the initiation of proposals for the formulation of the policies of the central bank, provision of statistical data and advice. Among such decisions will be a review of the monetary policy rate which was at the central bank's 101st meeting kept unchanged at 13.5 percent citing an increase in public debt stock and inflation risks. Hence, the decision not to further cut the rate after it did so by a 100-basis point last month,” it added. The monetary policy rate influences the interest rate on loans and determines the rate at which the central bank lends to commercial banks. The bank will however announce its latest decision undertaken at its 102nd meeting on September 27, 2021.

Source: GhanaWeb September 09, 2021 14:03 UTC