BoG maintains policy rate at 13.5 percent

On Tuesday, July 2, 2013, all commercial banks started implementing this new formula for calculating the minimum lending rate for borrowers. 

The Monetary Policy Committee of the Bank of Ghana (BoG) has maintained the policy rate at 13.5 percent.

The policy rate is the rate at which the central bank lends to commercial banks in the country.

The Governor of the Bank of Ghana who is also the chairman of the committee, Dr. Ernest Addison made the announcement at a press briefing.

According to him, headline inflation has eased sharply and reverted within the medium-term target band, driven mainly by the tight monetary policy stance and some base drift effects.

“The latest forecast remains broadly unchanged with inflation projected to remain within band and around the central path in the forecast horizon barring any upside risks from fiscal pressures,” he said.


Leave a Reply