BoG outlines measures to tame inflation -Governor

The Bank of Ghana (BoG) has introduced new measures to control inflation.

These measures include a 273-day instrument to enhance the existing sterilization toolkit. They also involve intensifying and monitoring BoG Net Open Positions for compliance. Additionally, the Cash Reserve Ratio structure will be reviewed for its impact on liquidity.

Dr. Johnson Pandit Asiama, the Governor of BoG, spoke at a news conference. This followed the 123rd regular meeting of the Monetary Policy Committee (MPC). He stated that these measures are necessary to reduce inflation.

Currently, the country's inflation rate is 23.1 percent. This is much higher than the 17 percent target set by the International Monetary Fund (IMF).