BoG Governor Is Delusional; Johns Hopkins Economist On Ghana’s Stayed Policy Rate

An economist with Johns Hopkins University, Steve Hanke has described the governor of Ghana’s Central bank, Ernest Addison as delusional.

His comment was on the back of one of the Bank of Ghana’s reasons for keeping the policy rate at 19%.

The BoG decided to maintain the Monetary Policy Rate at 19% during the 107th Monetary Policy Committee (MPC) meeting.

Among the reasons cited by the BoG for the policy rate is a projected “deceleration in the rate of increase in inflation”.

According to Hanke the projection of the BoG is a “Spoiler alert”.

Hanke tweeted, “Bank of Ghana’s Governor Ernest Addison says Ghana is seeing a “deceleration” in inflation. SPOILER ALERT: Addison is delusional. Today, I measure GHA’s inflation at a stunning 52%/yr—nearly 1.8x the phony official rate.”

Source: opemsuo.com/Hajara Fuseini