Ghana is projected to attain a single-digit inflation by the second quarter of next year, the Governor of Bank of Ghana (BoG), Dr Ernest Addison, has stated.
He said the feat would have been achieved by the first quarter of next year but given the macroeconomic challenges the country is going through, economic analyst had shifted their projection to second quarter of next year.
Speaking at the 122nd Monetary Policy Committee press conference in Accra on Monday after the regular meeting of the MPC, the Chairman noted that the single-digit inflation target would be achieved on the fiscal consolidation being pursued by the government.
The MPC at its latest meeting, maintained the policy rate (the rate at which the Central Bank lends to commercial banks which invariable influences interest rate) for three consecutive times at 27 per cent, citing improved macroeconomic conditions and positive growth of the economy.
