Policy Rate At 14%: Middle East Crisis Is The Elephant In The Room – BoG Boss

Policy Rate At 14%: Middle East Crisis Is The Elephant In The Room – BoG Boss

NewsGhana, Latest Updates and Breaking News of Ghana, Prosper Kay, https://www.newsghana.com.gh/policy-rate-at-14-middle-east-crisis-is-the-elephant-in-the-room-bog-boss/The Governor of the Bank of Ghana, Johnson Pandit Asiamah, has defended the decision by the Monetary Policy Committee (MPC) to maintain the policy rate at 14 percent, insisting that lingering geopolitical tensions in the Middle East continue to pose serious risks to Ghana’s infl…

Bank of Ghana maintains policy rate at 14%

The Bank of Ghana has maintained the policy rate at 14%, in spite of the negative outlook for inflation, driven by threats emanating from the Middle East tensions. Typically, when central banks maintain the Policy Rate despite threats of rising inflation, it is a monetary policy decision indicative of the central bank prioritizing economic growth over short term price stability. In this case, the central bank, despite threats of inflationary pre…