The Bank of Ghana’s Monetary Policy Committee will on Monday, May 31, 2021, announce its decision taken on the policy rate.

The development comes after the Committee from May 26-28, 2021, commenced its third scheduled meeting of the year to review economic developments of the country to ascertain its monetary policy rate decision.

Some economists and analysts have predicted the central bank is expected to maintain its policy rate unchanged at 14.5 percent for a seventh consecutive time.

They believe the prediction is hinged on factors based on the economic developments of the country in the past few months, which do not support a reduction in the policy rate.

At the Bank of Ghana’s 99th MPC meeting, it kept its monetary policy rate unchanged at 14.5 percent, a figure which was has remained the same since March 2021.

Governor of the Bank of Ghana, Dr Ernest Addison explaining the rationale behind the policy rate decision explained that the 2021 budget has set fiscal policy on an adjustment path albeit slower than originally anticipated.

For today's, press conference, Governor of the Bank of Ghana, Dr Ernest Addison, is expected to provide the updates.

Watch a stream of the press conference below: