Bank of Ghana Retains Policy Rate At 19%

The Bank of Ghana has maintained the policy rate at 19%.

The Governor of the Bank, Dr Kofi Wampah in a presentation to the media on developments in the economy cited positive outlook in the general macro-economic environment to leave the rate unchanged.

He said the latest forecast shows that inflation is likely to stay slightly above the revised target of 13 plus or minus two percent by the end of the year.

Dr Wampah said the expected inflows from the Eurobond and the cocoa syndicated loan will provide liquidity on the foreign exchange market.

Dr Wampah said the Central Bank survey on consumer and business confidence in the economy improved during the second quarter.

GBC