The Bank of Ghana kept its monetary policy rate at an eight-year low of 14.5% during its November meeting, compared to 25.50% in 2016.
The rate has been maintained since May 2020.
The decision aims to continue supporting economic activity as it waits for the full impact of coronavirus measures to filter through the economy.
In November 2004 which was an election year, the Bank of Ghana Policy Rate was 18.50% and 17%, 15% for 2008 and 2012 respectively.
Meantime, inflation eased for the third consecutive month to 10.1% in October and it is expected to return to within the bank’s 6-10 percent target by the second quarter of 2021.
Source: Mybrytfmonline/Kofi Atakora
