Bank of Ghana MPC meets to review economy, policy rate likely to stay at 16%

The Monetary Policy Committee (MPC) of the Bank of Ghana begins its 39th regular meeting Monday April 12, 2010, a press release from the central bank copied to ghanabusinessnews.com has said.

The meeting is to review the latest developments in the economy and take a decision on the bank’s policy rate, which is the basic rate at which the bank lends to its customers.

At the end of the meeting, the bank will at a press conference on Friday April 16, announce a new policy rate.

But while the central bank has said it will cut its policy rate further as inflation continues to fall it is likely that the current rate of 16% will be maintained.

Ghana’s inflation dropped to 14.2% in February from 14.8% in January. That was a drop of 0.55%  from the January 2010 rate and the lowest in eight months and the lowest in 22 consecutive months.

By Emmanuel K. Dogbevi