Deloitte West Africa has indicated that the decision by the Monetary Policy Committee of the Bank of Ghana to keep the policy rate at 27% will anchor inflation expectations despite short-term pressures.
The professional services firm also believed that the maintenance of the policy rate would support the cedi recovery and ensure external sector stability.
In its economic brief centered on the Monetary Policy Rate (MPR) in Ghana and Nigeria, it also said the implication of the unchanged policy rate would also boost business and consumer confidence.
The MPC cited a slightly elevated inflation despite a rebound in the stability of the Ghana cedi and a stable domestic economy as the rationale behind the unchanged policy rate of 27.0%.
