Bank of Ghana maintains policy rate at 28%

The Monetary Policy Committee (MPC) of the Bank of Ghana has kept the policy rate at 28 percent.

Dr. Johnson Asiama, the Governor of the Bank of Ghana, announced this today. This announcement was made during the 124th MPC press briefing in Accra.

Dr. Asiama noted that headline inflation has declined for four consecutive months this year. He explained that both food and non-food inflation contributed to this decline.

He also observed a strong rebound of the cedi against major currencies like the dollar.

According to Dr. Asiama, several factors contributed to this trend. These include a tight monetary stance, ongoing fiscal consolidation, record reserve accumulation, and strict enforcement of forex market rules.