The Monetary Policy Committee of the Bank of Ghana has increased its policy rate by 100 basis points from 27 percent to 28 percent.
The increase, the BoG explained, is part of the measures by the central bank to address current inflationary pressures.
The BoG stated in a statement that the government’s actions would help restore fiscal and debt sustainability, reduce inflation, and help stabilise the currency.
“In the interim, the MPC sees the need to remain vigilant and moderate liquidity in the system to underpin macroeconomic adjustments taking place to drive inflation on a downward path. Under the circumstances, the Committee decided to increase the policy rate by 100 basis points to 28 percent.”