The Committee on May 26, 2021, commenced its third scheduled meeting of the year to review economic developments of the country to ascertain its monetary policy rate decision. But Professor Peter Quartey believes his prediction, should it come to fruition, will be hinged on factors based on the economic developments of the country in past few months, which do not support a reduction in the policy rate. My expectation is that the policy rate will be maintained again,” he told Citi Business News in an interview monitored by GhanaWeb. At the Bank of Ghana’s 99th MPC meeting, it kept its monetary policy rate unchanged at 14.5 percent, a figure which was has remained the same since March 2021. The policy rate is of key interest to businesses operating in the country as it influences the interest rate on loans and determines the rate at which the central bank lends to commercial banks.

Source: GhanaWeb May 27, 2021 11:51 UTC