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Business News of Tuesday, 26 January 2021

Source: www.ghanaweb.com

BoG’s MPC commences first meeting of 2021 to review Ghana’s economy

The Bank of Ghana's. Monetary Policy Committee has commenced its first meeting of the year scheduled from Tuesday, January 26, to Friday, January 29, 2021.

The meeting will entail the initiation of proposals for the formulation of the monetary policies of the central bank, provision of statistical data, advice and a review of economic developments for the country.

At the MPC’s last meeting in November 2020, the central bank kept its monetary policy rate unchanged at 14.5 percent for a fifth consecutive period for 2020.

The decision, according to the central bank was attributed to growth indicators improving and reserve buffers remaining strong.

Governor of the Bank, Dr Ernest Addison explained that inflation has edged closer to its target with the economy gradually rebounding faster than expected after suffering setbacks as a result of the Coronavirus pandemic.

Meanwhile, the committee after its first meeting of the year will update the press on its decisions undertaken on February 1, 2021.

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