In a move to insulate the domestic economy from shifting global market dynamics, the Bank of Ghana announced on Wednesday that it is keeping its benchmark Monetary Policy Rate unchanged at 14%.
The decision arrived at the culmination of the Central Bank’s 130th Monetary Policy Committee (MPC) review.
While local economic indicators have shown a steady upward trajectory, monetary authorities emphasized that mounting external uncertainties and early signs of domestic inflationary pressures warrant a cautious approach.
Briefing the media following the high-level sessions, committee officials highlighted a series of positive milestones achieved at home.
Ghana’s macroeconomic landscape has enjoyed a period of renewed stability, characterized by cooling inflation rates, a remarkably steady local currency, and a robust improvement in fiscal performance.
Despite these encouraging internal signals, the MPC raised a flag of caution regarding the international arena.
The committee observed that volatile global economic shifts continue to present unpredictable risks, which could threaten Ghana’s ongoing recovery and disrupt the progress made in stabilizing consumer prices.
