BoG: Highlights of 102nd Monetary Policy Committee meeting [Infographs]
The Bank of Ghana (BoG) on Monday, September 27, 2021, maintained its Monetary Policy Rate at 13.5 percent.
According to Dr Addison, the decision by the Committee to keep the policy rate is due to the fact that inflation is fairly balanced against growth and is expected to remain within the Bank’s medium term target band, although inflation will be at the Bank’s upper band of its inflation target.
The Bank’s real CIEA recorded a 20.0 percent year-on-year growth in July 2021, compared with 20.2 percent in June 2021.
Total assets of banks increased by 16.7 percent to GH¢166.4 billion as at end-August 2021, driven mainly by strong growth in investments.
Private sector credit growth, the BoG also noted, has not yet fully recovered from the pandemic effects. Consequently, annual private sector credit growth slowed to 9.5
percent in August 2021 compared with 14.3 percent last year.
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102nd Mpc Meeting – Highlights Press Release by Fuaad Dodoo on Scribd
