iBroker Ghana

The Monetary Policy Committee of the Bank of Ghana has raised the Policy Rate by

100 basis points from 12.50% to 13.50%. This was announced at a press briefing addressed by the Governor of the Central Bank, Mr Kwesi Amissah-Arthur on Wednesday February 15, 2012 in Accra.

The rise in the policy rate was to contain future inflation pressures and realign interest rates in favour of the domestic assets. MPC declared its intention to manage the monetary policy in order to keep inflation within the desired threshold.

A press statement released by the Monetary Policy Committee of the Bank of Ghana said that its Composite Index of Economic Activity (CIEA) grew by 15.2% from 273.18 points in 2010 to 314.7 points in 2011. It also stated that real GDP is projected to grow by 13.6% for 2011.

Readers can click HERE for a copy of the press statement by the MPC

CBL Research