BoG set to announce new policy rate amid Middle East pressures

Bank of Ghana Governor, Dr Johnson Asiama.

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The Monetary Policy Committee of the Bank of Ghana (BoG) is set to announce a new policy rate later today after a two-day meeting to review developments in the economy.

The Committee is expected to decide on the policy rate, which currently stands at 14%.

There have been mixed signals from the Governor of the Bank of Ghana, Dr Johnson Asiama, ahead of the announcement.

Dr Asiama has raised concerns that developments in the Middle East could place additional pressure on the Ghanaian economy, potentially influencing the Committee’s decision on the policy rate.

However, some economists engaged by Joy Business are looking forward to the rate being maintained, while others anticipate a possible hike.

The announcement will therefore be closely watched by businesses, investors and consumers for indications of the Bank of Ghana’s response to the emerging economic pressures.

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Bank of Ghana

Monetary Policy Committee (MPC)