The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) is scheduled to provide an update from its regular meetings it held last week that commenced from Wednesday, July 22 to Friday, July 24, 2020.

For the committee’s 95th meeting, it is expected to initiate proposals for the formulation of the monetary policies of the central bank, evaluate Ghana's economy and provide statistical data and monetary policy rate, advice and necessary steps for the formulation of monetary policies.

The Central Bank on Friday May 15, 2020 kept its policy rate unchanged at 14.5 percent following a sudden rise in inflation.

This follows an earlier March 2020 meeting which saw a 150-basis-point reduction in the monetary policy rate to 14.5 percent, with some commercial banks impressed upon to further slash on lending rates to ease access to credit.

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