Some analysts are predicting a further increase in the Monetary Policy Rate as the Bank of Ghana commences its economic review meeting later today.
The Monetary Policy Committee’s meeting is due to end on Friday with a decision on the Policy Rate which directly influences interest paid on bank loans.
At its last meeting in February, the committee increased the rate by a 100 basis points to 13.5 percent. But some analysts believe this time around, the prevailing economic developments only point to a further increase by 50 basis points or maintained at worst case scenario.
Deputy Director of the Institute of Statistical, Social and Economic Research, Prof. Felix Asante explains to JOY BUSINESS, this should bolster some economic confidence.
“I would therefore be shocked if the rate is reduced because the macroeconomic variables are not responding to each other. For Instance, whilst the cedi continues to depreciate, inflation is not responding at that level. So with traders complaining bitterly about the depreciation, the Bank of Ghana would have to build their confidence back” he said.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Mahama: Attorney General compiling 33 corruption cases against former officials
4 minutes -
Hooliganism: ‘Clueless’ club owners need ‘serious’ education more than fans – Sports Minister
9 minutes -
GFA vows swift and decisive action after Holy Stars vs Nations FC match violence
14 minutes -
This new levy could hike fuel prices- Dr Riverson
18 minutes -
Prof. Bokpin backs GH¢1 fuel levy as necessary support for energy sector
30 minutes -
This is the right time to impose Gh¢1.00 fuel levy – John Jinapor
45 minutes -
Ntim Fordjour inspires Assin South BECE candidates, donates 3,400 mathematical sets
51 minutes -
Ghana fake credential allegation unmasks global elite deceit
54 minutes -
Ghana signs MoU with Jubilee, TEN fields partners to extend license to 2040
59 minutes -
Ghanaian AI expert Frank Mensah bolsters cybersecurity in healthcare and mobile money
2 hours -
Today’s front pages: Wednesday, June 4, 2025
2 hours -
Singer Jessie J reveals early breast cancer diagnosis
2 hours -
Deadly mushroom lunch cook tells court she threw up toxic meal
2 hours -
Japan backs Mahama’s Volivo Bridge dream under $10bn ‘Big Push’ plan
2 hours -
Nearly GH¢1bn released to District Assemblies for Q1 – Finance Minister
3 hours