The Bank of Ghana (BoG) has started its routine Monetary Policy Meetings, which will take place from Wednesday, November 20, to Friday, November 22, 2024, in order to evaluate the economic situation.
The primary focus of the 121st meeting will be on reviewing current inflation levels and assessing the prevailing economic conditions.
At its most recent meeting, the Bank of Ghana implemented its second rate cut since 2021, lowering the Monetary Policy Rate to 27%. This decision follows a period of restrictive monetary policy measures aimed at managing high inflation levels.
For nine months following a decrease from 30% in January 2024, the rate had been established at 29%.
The recent rate cut is intended to offer relief to borrowers as the year comes to a close. Industry experts are expecting more reductions to help create a better business climate as we reach the end of the year.
On November 25, 2024, it is anticipated that the central bank will announce the revised MPC rate.
