MPC Meetings Commences Next Week

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The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) will from next week Monday commence its regular meetings to review developments in the economy.
Next week’s meeting is the 62nd and may be the last for this year.

The meetings will end with a press conference next week Wednesday which will be addressed by the Governor of the Bank of Ghana Dr. Henry Kofi Wampah.

The meeting will also end with a decision on the appropriate positioning of the Bank’s Policy Rate which commercial banks use to determine their base rates.

The policy rate was maintained at 19 percent at the last meeting in September.

There are indications that the International Monetary Fund (IMF) programme, and heightened inflation may be at the heart of next week’s discussions.

Meanwhile the team from the IMF will this month be in the country for 2 weeks to possibly conclude discussions on a bailout programme to get Ghana out of its economic woes.

Government of Ghana in August headed to the IMF for a bailout programme to save the country from its economic woes.

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