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Business News of Wednesday, 6 January 2021


BoG releases MPC meeting timelines for 2021

File of the Bank of Ghana Headquaters File of the Bank of Ghana Headquaters

The Bank of Ghana (BoG) has provided a schedule for its Monetary Policy Committee (MPC) to make deliberations and review developments of the economy for 2021.

The central bank in November 2020 at its 97th meeting of 2020 kept its policy rate unchanged at 14.5 percent for the fifth consecutive time.

In a tweet shared on Wednesday, January 6, 2021, the Bank of Ghana indicated the MPC will hold its first deliberations on January 26-29, 2021.

The committee will subsequently update the press on its decisions undertaken on February 1, 2021. A second meeting will also be held between March 17-19, 2021 by the Committee with a press conference to follow on March 22, 2021.

Meanwhile, Governor of the Bank, Dr Ernest Addison at a November 2020 press conference explained its decision to maintain the policy rate was attributed to growth indicators improving and reserve buffers remaining strong.

He explained inflation has also edged closer to its target with the economy gradually rebounding faster than expected in the wake of the Coronavirus pandemic.

The MPC during its quarterly meetings will initiate proposals for the formulation of the monetary policies of the central bank, provide statistical data, advice and necessary steps for economic growth.

See the schedule below: