BoG To Announce New Monetary Policy Rate On November 25   

The Bank of Ghana (BoG) has commenced its regular Monetary Policy Meetings, running from Wednesday, November 20, to Friday, November 22, 2024, to assess the state of the economy.

The 121st meeting will focus on evaluating current inflation levels and overall economic conditions.

In its previous meeting, the Bank of Ghana reduced the Monetary Policy Rate to 27%, marking the second rate cut since 2021, after a period of tight monetary policy aimed at controlling high inflation.

The rate had been set at 29% for nine months following a reduction from 30% in January 2024.

The recent rate cut aims to provide relief to borrowers in the final months of the year, with industry observers anticipating further reductions to foster a more favourable business environment as the year concludes.

The central bank is expected to announce the updated MPC rate on November 25, 2024.

Source: Citinewsroom