The Bank of Ghana has kept the monetary policy rate unchanged at 27 percent following its first meeting of 2025.
Governor of the Bank of Ghana, Dr. Ernest Addison, explained that the central bank’s latest inflation forecast indicated a steady decline, with a return to the disinflation path over an extended time horizon to achieve the medium-term target of 8 ± 2 percent.
“While the supply chain out-turn for 2024 deviated from the target, the disinflation process is expected to resume, contingent on renewed effort at fiscal consolidation, which is anticipated in the new administration’s economic policy agenda and the yet-to-be presented 2025 budget.”
Dr. Ernest Addison said this during a press briefing on Monday January 27, 2025 in Accra.
Source: GhanaWeb