BoG Postpones MPC Meeting Over IMF 2nd Engagement

The Bank of Ghana has postponed its Monetary Policy Committee meeting which was scheduled to take place last week due to the pending stakeholder engagement with a team from the International Monetary Fund (IMF) from this week.

The team is expected in Ghana today, September 26, 2022, and will end their discussions on policies and reforms that could be supported by the Fund with the necessary stakeholders on October 7, 2022.

The BoG says the postponement of the MPC meeting is meant to coincide with the end of the mission to allow the decision on the policy rate to benefit from the broader discussions to be held during the period.

“The decision on the stance of monetary policy will be announced on October 7, 2022”, it said in a statement.

The 108th MPC meeting was slated to take place from September 20 to 23, 2022.

It is uncertain that the BoG will increase the Monetary Policy Rate (MPR) after it increased it to 22% during an emergency MPC meeting in August.

Source: opemsuo.com/Hajara Fuseini