Acceleration of the fall in inflation: the BoG will continue to increase its key interest rates : Orishas-finance

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Acceleration of the fall in inflation: the BoG will continue to increase its key interest rates

11/05/2023

Source : ORISHAS FINANCE

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Acceleration of the fall in inflation: the BoG will continue to increase its key interest rates

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The Bank of Ghana (BoG) announced that it could raise the policy rate again to help bring inflation down more quickly.

The Central Bank announces that “the current inflation rate remains well above the medium-term objective, which justifies maintaining a strict position in the future.” In March 2023, inflation fell to 45% from 53.6% the previous month. At its last meeting in March 2023, the BoG Monetary Policy Committee raised the key rate by 150 basis points to 29.5%. While interacting with George Wiafe of Joy Business in Washington DC during the 2023 IMF and World Bank spring meetings, BoG governor Dr. Ernest Addison said that barring a negative setback, the forecasts

could happen.

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