The Director of Research at the Institute of Economic Affairs (IEA), Dr John Kwakye has said that ending the year with inflation of 23%, a Policy Rate of 27% and depreciation of 20%, represents a glaring failure of monetary policy.
To that end, he says monetary policy needs resetting.
To him, the time has come for the Bank of Ghana (BoG) to be made more accountable for delivering its inflation and exchange rate mandates.
The primary objective of the Bank of Ghana is to pursue sound monetary policies aimed at price stability and creating an enabling environment for sustainable economic growth.