The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has decided to keep the Policy Rate at 28%. The Governor of the Bank of Ghana, Dr. Johnson Asiama, announced this decision at the 124th MPC press briefing in Accra on May 23, 2025.
Dr. Asiama highlighted some positive trends in the economy. Headline inflation has declined consecutively for the first four months of the year, driven by decreases in both food and non-food inflation. Additionally, the local currency, the Cedi, has rebounded strongly against major trading currencies like the dollar.
According to Dr. Asiama, the rebound of the Cedi can be attributed to several factors, including a tight monetary stance, ongoing fiscal consolidation, record reserve accumulation, and strict enforcement of forex market rules. These measures have contributed to stabilizing the currency and controlling inflation.
Source: Apexnewsgh.com
