The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) which commences its first meeting in 2015 on Monday February, 16, 2015 ended discussions today,?18th of February, 2015.

wpid-Dr-Henry-Kofi-Wampah-in-bus-folder.jpgAt a press conference, the Governor of the Bank Of Ghana Dr Henry Kofi Wampah announce the decision of the MPC on the appropriate positioning of the Bank?s policy rate.

The last time the bank announced a policy rate was in November, 2014 in where the committee pegged the rate at 21%.
That was the highest rate since December, 2003 when the rate was at 21.50 percent.
The policy rate which is used by commercial banks to calculate their base rates was at 19 percent prior to the increment.
Industry players reacting to the increment at the time said they feared the latest hike will lead to an increase in interest rates which hover around 35 percent on the average.

 

Read full statement below:

MPC Press Release – February 18, 2015 (1)

 

Source: spyGhana.com

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