• About
  • Advertisements
  • Terms of Use
  • Contact
Thursday, October 2, 2025
The Sikaman Times
Advertisement
  • Home
  • News
  • Business
  • Technology
  • Regional
  • Features
  • Focus
No Result
View All Result
The Sikaman Times
  • Home
  • News
  • Business
  • Technology
  • Regional
  • Features
  • Focus
No Result
View All Result
The Sikaman Times
No Result
View All Result

BoG keeps Monetary Policy Rate unchanged at 27%

by Features
January 27, 2025
BoG keeps Monetary Policy Rate unchanged at 27%
SharePost to XSendShareSend

The Bank of Ghana (BoG) has kept its monetary policy rate unchanged at 27 percent for the second consecutive meeting, a move aimed at tackling elevated inflation risks while supporting Ghana’s economic recovery.

The decision comes in the wake of Ghana missing its 2024 end-year inflation target of 15 percent, with inflation rising to 23.8 percent in December—the highest in eight months.

Addressing the first Monetary Policy Committee (MPC) press briefing for 2025 at the Central Bank’s new headquarters, Bank Square, today, the Governor, Dr. Ernest Addison, said the Bank is maintaining a cautious stance due to persistent inflationary pressures and global economic uncertainties.

“The inflation profile remains elevated, largely driven by food price movement, especially in the last quarter of the year. The climate factors, including dry spells in some parts of the food-growing communities of the country and the late onset of rains, negatively affected production,” Dr. Addison stated.

He added that supply chain challenges further worsened food prices, contributing to the deviation from the inflation target. Despite this, he noted optimism about a resumption of the disinflation process, contingent on fiscal consolidation efforts under the new administration’s economic policy agenda and the yet-to-be-presented 2025 budget statement.

“While the inflation outturn for 2024 deviated from the target, it is expected that the disinflation process will resume contingent on renewed efforts at fiscal consolidation, which is anticipated in the new administration’s economic policy agenda and the yet-to-be-presented 2025 budget statement,” he explained.

Ghana’s consumer inflation remains significantly above the BoG’s medium-term target of 8% ± 2%. However, the Bank’s latest forecast indicates a gradual return to the path of disinflation, though achieving this goal is expected to take longer.

“The bank’s latest inflation focus shows a steady decline and returns to the path of disinflation with an extended time of rising in achieving the medium target of 8+- 2%. Under the circumstances, the committee decided to keep the monetary policy rate unchanged at 27%,” Dr. Addison said.

Dr. Addison highlighted that the monetary policy decision reflects the Bank’s commitment to managing inflation and ensuring macroeconomic stability, critical for sustaining the recovery of the West African gold and cocoa producer.

 

Source: Graphic Online

Advertisement Advertisement
Tags: FeaturedMonetary Policy Rate
ShareTweetSendShareSend
Previous Post

NPP boycotts Media General platforms over bias

Next Post

Farihan Alhassan appointed new MD of GCB Bank PLC as Kofi Adomakoh steps down

Related Posts

Amin Ola to release inspiring new music video “My Boo” on Oct 15 – a story of love, truth, and transformation
Arts & Entertainment

Amin Ola to release inspiring new music video “My Boo” on Oct 15 – a story of love, truth, and transformation

October 1, 2025
UTAG elects UGBS’s Prof. Vera Fiador as first female president
Education

UTAG elects UGBS’s Prof. Vera Fiador as first female president

October 1, 2025
CFLE Africa leads nationwide campaign on estate and gift planning this October
Business

CFLE Africa leads nationwide campaign on estate and gift planning this October

October 1, 2025
MultiChoice ‘promotion’ or Govt’s negotiation? Disparities emerge over new DStv offer
Business

MultiChoice ‘promotion’ or Govt’s negotiation? Disparities emerge over new DStv offer

October 1, 2025
Inflation decreases to 23.1% from 25.0% for May 2024
Business

Inflation tumbles to 9.4%, lowest in four years

October 1, 2025
TEWU declares indefinite nationwide strike over unresolved grievances
Education

TEWU suspends strike after talks with FWSC

October 1, 2025
Next Post
Farihan Alhassan appointed new MD of GCB Bank PLC as Kofi Adomakoh steps down

Farihan Alhassan appointed new MD of GCB Bank PLC as Kofi Adomakoh steps down

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Amin Ola to release inspiring new music video “My Boo” on Oct 15 – a story of love, truth, and transformation

    Amin Ola to release inspiring new music video “My Boo” on Oct 15 – a story of love, truth, and transformation

    1 shares
    Share 0 Tweet 0
  • CFLE Africa leads nationwide campaign on estate and gift planning this October

    2 shares
    Share 1 Tweet 1
  • You’re both wrong: Kwame Jantuah tells Mahama, Akufo-Addo over judiciary comments

    2 shares
    Share 1 Tweet 1
  • “Yesu Ka Wo Ho”, “Gyatabruwa” composer Osei-Boateng dies at 70

    14 shares
    Share 6 Tweet 4
  • MultiChoice agrees to enhance value on DStv packages for Ghanaian subscribers

    1 shares
    Share 0 Tweet 0
The Sikaman Times

We bring you the best Premium WordPress Themes that perfect for news, magazine, personal blog, etc. Check our landing page for details.

Follow Us

Browse by Category

  • Africa
  • Ahafo
  • Art & Entertainment
  • Arts & Entertainment
  • Ashanti
  • Aviation
  • Banking & Finance
  • Bono East
  • Brong Ahafo
  • Business
  • Business
  • Central
  • Communication
  • Culture
  • Eastern
  • Economy
  • Education
  • Entrepreneurship & Local Business
  • Exclude
  • Features
  • General
  • Ghana
  • Greater Accra
  • Health
  • Health
  • International
  • International Trade
  • Lifestyle
  • Lifestyle
  • Media
  • National
  • News
  • North East
  • Northern
  • Oil & Gas
  • Oti
  • Politics
  • Politics
  • Real Estate
  • Regional
  • Relationship
  • Relationship
  • Religion
  • Savannah
  • Social
  • Social
  • Sports
  • Sports
  • Technology
  • Trade
  • Transportation
  • Uncategorized
  • Upper East
  • Upper West
  • Volta
  • Western

Recent News

Amin Ola to release inspiring new music video “My Boo” on Oct 15 – a story of love, truth, and transformation

Amin Ola to release inspiring new music video “My Boo” on Oct 15 – a story of love, truth, and transformation

October 1, 2025
UTAG elects UGBS’s Prof. Vera Fiador as first female president

UTAG elects UGBS’s Prof. Vera Fiador as first female president

October 1, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

About Us

© 2024 - The Sikaman Times

No Result
View All Result
  • Home
  • News
  • Business
  • Technology
  • Regional
  • Features
  • Focus

About Us

© 2024 - The Sikaman Times

QUICK LINKS

About

Privacy Policy

Terms Of Use

Advertisement

Contact

FOCUS

Ghana

Africa

International

CATEGORIES

General News

Business

Opinions

Politics

Technology

EXTRAS

Sports

Entertainment

Health & Wellness

STAY CONNECTED

Facebook Twitter Youtube Instagram Linkedin

© COPYRIGHT 2022-2025
The Sikaman Times