Bank of Ghana maintains policy rate at 26 percent

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The Monetary Policy Committee of the Bank of Ghana has kept its policy rate unchanged.

The Committee left its key lending rate at 26 percent. Announcing this at a press briefing with journalist, Governor of the Bank of Ghana, Dr. Kofi Wampah said this decision was based on a positive outlook for inflation rate and growth in the coming months.

The governor also added that Fiscal consolidation is on track, which informed their decision to keep the rate unchanged.

On the Ghana cedi, the governor noted that the Bank of Ghana stands ready to quickly institute additional measures to prevent the cedi from depreciating to levels that could be described as worrying.

Meanwhile the governor has noted that, there might be the need to up the capital requirements of commercial banks especially for those who are facing liquidity challenges.

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