114th MPC meeting: Economic assessments begin amidst marginal inflation fall

The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has commenced its regular meetings to review developments in the economy.

This is the 114th meeting of the Committee and is expected to decide on steps to ensure financial and economic stability.

Dominating the MPC meeting will be the policy rate decision aimed at taming inflation and ensuring price stability.

This 114th meeting by the committee is coming at a time, the country has witnessed nearly three percent drop in inflation for the August 2023.

Inflation now stands at 40.1 percent compared to the 43.1 percent rate for July.

The marginal decline in the inflation rate is the first time in three months after it started rising in May.

The Central Bank at its last last MPC meeting in July 2023, tightened the monetary policy rate by 50 basis points to 30 percent largely due to inflationary pressures.

But with the easing of inflation, industry watchers are anticipating a retention of the policy rate to further anchor the disinflation path.