Audio By Carbonatix
Some analysts are predicting a further increase in the Monetary Policy Rate as the Bank of Ghana commences its economic review meeting later today.
The Monetary Policy Committee’s meeting is due to end on Friday with a decision on the Policy Rate which directly influences interest paid on bank loans.
At its last meeting in February, the committee increased the rate by a 100 basis points to 13.5 percent. But some analysts believe this time around, the prevailing economic developments only point to a further increase by 50 basis points or maintained at worst case scenario.
Deputy Director of the Institute of Statistical, Social and Economic Research, Prof. Felix Asante explains to JOY BUSINESS, this should bolster some economic confidence.
“I would therefore be shocked if the rate is reduced because the macroeconomic variables are not responding to each other. For Instance, whilst the cedi continues to depreciate, inflation is not responding at that level. So with traders complaining bitterly about the depreciation, the Bank of Ghana would have to build their confidence back” he said.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
COCOBOD entered 2025 with GH¢17.8bn debt burden – Adongo
7 minutes -
Son of Robert Mugabe detained in South Africa after reported shooting
8 minutes -
Muntaka: Interior Minister explains why government wants to rename NIB as BNI
12 minutes -
Over 800 trainees stranded as GTEC shuts down Royal Nursing College
12 minutes -
Dual citizenship and public office in Ghana: Why caution must prevail for now
18 minutes -
Justice Abdulai backs removal of EC leadership, but urges reform of Article 146
21 minutes -
Women neglect self-care after childbirth, vaginal odour can affect intimacy – Dr. Charity Ankrah
26 minutes -
CLOGSAG threatens nationwide strike on March 9 over unfulfilled promises on unique salary structure
29 minutes -
Ga Mantse in stable condition after gory Tuesday accident – Palace reveals
33 minutes -
UK ex-Prince Andrew arrested on suspicion of misconduct in public office
34 minutes -
I was put in prison cells for 5 days because of Akufo-Addo – Bullgod
43 minutes -
Dignitaries, media practitioners pay last respects to late Dr Alhaji Abubakari Sidick Ahmed
43 minutes -
Dusty Kwabenya-Berekuso-Kitase road affects health and education, residents call for help
58 minutes -
Sniffer dogs deployed as NACOC tightens security at Kotoka International Airport
59 minutes -
A Plus proposes bill to criminalise paternity fraud
1 hour
