The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has said, in relation to the domestic economy that high-frequency indicators point to continued improvement in economic activity in Ghana.
In the third quarter of 2024, the committee said that the BoG's high-frequency real sector indicators pointed to a sustained pick-up in economic activity.
The updated real Composite Index of Economic Activity (CIEA) recorded an annual growth of 2.2 percent in September 2024, compared to a contraction of 0.4 percent in the corresponding period of 2023. "Major drivers of the improvement in economic activity include increased port activity, households and firms consumption of goods and services , construction activities, credit to the private sector, and higher tourist arrivals," a statement issued after the 121st MPC sitting on Friday November 29 said.
The committee kept the Policy Rate at 27 per cent.
