{"id":58937,"date":"2024-05-26T08:39:24","date_gmt":"2024-05-26T08:39:24","guid":{"rendered":"https:\/\/www.africa-press.net\/gambia\/uncategorized\/cbg-governor-says-inflation-to-continue-falling-towards-medium-term-target"},"modified":"2024-05-26T09:12:14","modified_gmt":"2024-05-26T09:12:14","slug":"cbg-governor-says-inflation-to-continue-falling-towards-medium-term-target","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/gambia\/all-news\/cbg-governor-says-inflation-to-continue-falling-towards-medium-term-target","title":{"rendered":"CBG Governor Says Inflation to Continue Falling Towards Medium-Term Target"},"content":{"rendered":"

Africa-Press – Gambia. <\/strong><\/span>The Governor of the Central Bank of The Gambia, Mr. BuahSaidy, has said that the inflation rate in The Gambia will continue to fall towards the 5% medium-term target if there are no further surprises, especially on international commodity prices.<\/b><\/p>\n

The Gambia\u2019s inflation rate currently stands at 11% and despite the optimistic assessment of the country\u2019s inflationary trend, the Monetary Policy Committee of the CBG recognizes the significant risks surrounding the outlook which, according to Governor Saidy, calls for prudent policy calibration to sustain the declining inflation.<\/p>\n

\u201cAs the global economic environment continues to be fluid, the importance of policy coordination to safeguard gains in the fight against inflation and sustain macroeconomic stability going forward is crucial,\u201d he stressed.<\/p>\n

\u201d In view of the above, the committee concludes that monetary policy should stay the course to ensure inflation returns to its desired target,\u201d he stated before outlining the MPC\u2019s policy decisions for sustaining the gains so far made in taming inflation.<\/p>\n

The MPC made the policy decision that the Monetary Policy Rate (MPR) will be maintained at 17.0%. It also decided that the Required Reserve (RR) ratio of commercial banks would be maintained at 13.0% while it also made the policy decision to maintain the interest rate on the standing deposit facility at 3.0%.<\/p>\n

\u201cThe interest rate on the standing lending facility will remain at 18.0% or MPR plus 1.0 percentage points. The committee will continue to observe vigilance and stand ready to act should the need arise,\u201d the CBG governor stated.<\/p>\n

The MPC of the CBG convened on May 22 and 23,2024 to review current domestic and global economic conditions and trends.<\/p>\n

For More News And Analysis About Gambia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Gambia. The Governor of the Central Bank of The Gambia, Mr. BuahSaidy, has said that the inflation rate in The Gambia will continue to fall towards the 5% medium-term target if there are no further surprises, especially on international commodity prices. The Gambia\u2019s inflation rate currently stands at 11% and despite the optimistic […]<\/p>\n","protected":false},"author":84,"featured_media":58936,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7],"tags":[2355,2361,260],"class_list":["post-58937","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","tag-africa-press","tag-africa-press-gambia","tag-gambia"],"yoast_head":"\nCBG Governor Says Inflation to Continue Falling Towards Medium-Term Target - Gambia<\/title>\n<meta name=\"description\" content=\"The Governor of the Central Bank of The Gambia, Mr. BuahSaidy, has said that the inflation rate in The Gambia will co ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/gambia\/all-news\/cbg-governor-says-inflation-to-continue-falling-towards-medium-term-target\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBG Governor Says Inflation to Continue Falling Towards Medium-Term Target\" \/>\n<meta property=\"og:description\" content=\"The Governor of the Central Bank of The Gambia, Mr. BuahSaidy, has said that the inflation rate in The Gambia will co ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/gambia\/all-news\/cbg-governor-says-inflation-to-continue-falling-towards-medium-term-target\" \/>\n<meta property=\"og:site_name\" content=\"Gambia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-26T08:39:24+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-26T09:12:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/gambia\/sites\/19\/2024\/05\/sm_1716701900.030638.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/cbg-governor-says-inflation-to-continue-falling-towards-medium-term-target#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/cbg-governor-says-inflation-to-continue-falling-towards-medium-term-target\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/gambia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"CBG Governor Says Inflation to Continue Falling Towards Medium-Term Target\",\"datePublished\":\"2024-05-26T08:39:24+00:00\",\"dateModified\":\"2024-05-26T09:12:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/cbg-governor-says-inflation-to-continue-falling-towards-medium-term-target\"},\"wordCount\":288,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/cbg-governor-says-inflation-to-continue-falling-towards-medium-term-target#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/gambia\/sites\/19\/2024\/05\/sm_1716701900.030638.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Gambia\",\"Gambia\"],\"articleSection\":[\"all news\",\"Economy\",\"head lines\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/gambia\/all-news\/cbg-governor-says-inflation-to-continue-falling-towards-medium-term-target#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/cbg-governor-says-inflation-to-continue-falling-towards-medium-term-target\",\"url\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/cbg-governor-says-inflation-to-continue-falling-towards-medium-term-target\",\"name\":\"CBG Governor Says Inflation to Continue Falling Towards Medium-Term Target - 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