Policy Rate increased to 27%

Chairman of the Monetary Policy Committee (MPC) and Governor of the Bank of Ghana (BoG) Dr Ernest Addison has announced that the policy rate has been increased to 27%.

Addressing the MPC press conference in Accra on Monday November 28, Dr Addison said infation has remained elevated.

This is driven largely by food pricing pressure and also the decline in the Cedi strength.

Cosumer confidence dipped on account of rising inflation, he added.

Regarding the the banking industry, he said the sector remained profitable.

More soon…