{"id":55271,"date":"2023-09-27T18:00:42","date_gmt":"2023-09-27T18:00:42","guid":{"rendered":"https:\/\/www.africa-press.net\/ghana\/?p=55271"},"modified":"2023-09-27T17:48:24","modified_gmt":"2023-09-27T17:48:24","slug":"full-text-mpc-keeps-policy-rate-at-30","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/ghana\/all-news\/full-text-mpc-keeps-policy-rate-at-30","title":{"rendered":"Full text: MPC keeps Policy Rate at 30%"},"content":{"rendered":"

Africa-Press – Ghana. <\/strong><\/span>The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has kept the Policy Rate at 30 percent.<\/b><\/p>\n

Addressing a press conference in Accra on Monday, September 25, Governor of the Bank of Ghana, Dr Ernest Addison said that on inflation dynamics, the continued maintenance of a tight monetary policy stance and relative exchange rate stability have contributed significantly to the disinflation process observed in the year thus far.<\/p>\n

Headline inflation has declined by a cumulative 14.0 percent since the peak of 54.1 percent recorded in December 2022, he said.<\/p>\n

Non-food inflation has also declined sharply by close to 20 percent, broadly reflecting the effectiveness of monetary policy.<\/p>\n

All core inflation measures, monitored by the central bank are trending downwards, indicating continued easing of underlying inflationary pressures. In addition, one-year ahead survey-based inflation expectations seem well anchored.<\/p>\n

While the disinflation process has resumed, which should result in a gradual return<\/p>\n

towards the target band over the medium-term barring unanticipated shocks, rising<\/p>\n

international crude oil prices and adjustments to utility tariffs remain a risk to the<\/p>\n

inflation outlook which would have to be managed through monetary policy vigilance.<\/p>\n

\u201cGiven these considerations, the Committee decided to maintain the policy rate at<\/p>\n

30.0 percent. The Committee further indicated that while the expectation is for<\/p>\n

continued disinflation, it stands ready to respond appropriately should inflation<\/p>\n

deviate from these broad expectations,\u201d Dr Addison said.<\/p>\n

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

Africa-Press – Ghana. The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has kept the Policy Rate at 30 percent. Addressing a press conference in Accra on Monday, September 25, Governor of the Bank of Ghana, Dr Ernest Addison said that on inflation dynamics, the continued maintenance of a tight monetary policy stance […]<\/p>\n","protected":false},"author":84,"featured_media":55270,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[5092,5096,429],"class_list":["post-55271","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-ghana","tag-ghana"],"yoast_head":"\nFull text: MPC keeps Policy Rate at 30% - Ghana<\/title>\n<meta name=\"description\" content=\"The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has kept the Policy Rate at 30 percent. 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