BoG maintains policy rate at 14%...For third consecutive meeting

The policy decision-making body of the Bank of Ghana (BoG), the Monetary Policy Committee (MPC), has maintained its policy rate at 14 per cent, citing the need to keep inflation on course towards the medium-term target while safeguarding the country's economic recovery.

Announcing the outcome of the committee's 131st meeting at the Bank Square in Accra yesterday, the Governor of the BoG, Dr Johnson Pandit Asiama, said robust first-quarter economic growth, improving private sector credit, stronger external sector performance and inflation remaining below the lower bound of the target band supported the decision to leave the benchmark rate unchanged.

It marks the third consecutive time the committee has kept the policy rate unchanged at 14 per cent following similar decisions in March and May this year, underscoring its cautious approach to monetary policy.