Bank of Ghana in meeting to review economic developments

The Monetary Policy Committee (MPC) of the Bank of Ghana will hold its 108th regular meeting from today, September 20, 2022, to Friday, September 23, 2022, to review developments in the economy.

The meeting which comes off after an emergency meeting in August to review the monetary policy rate saw a hike in the monetary policy rate to 22%.

According to the Bank of Ghana, the rising inflation and the cedi’s rapid depreciation led to the implementation of the decision.

Meanwhile, inflation for the month of August hit 33.9% with food and transportation being the major contributors.

With the rise in inflation, it is expected that the committee will further hike the policy rate.

The meetings will conclude with a press conference on Monday, September 26, 2022, to announce the committee’s decision.