Bank of Ghana maintains policy rate at 19%

The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has maintained the policy rate 19 percent.

The Policy rate indicates the rate at which commercial banks can borrow from the Central Bank.

Prior to the announcement some economists had predicted that the committee will maintain the rate at 19 percent due to the coming on board of COCOBOD’s 1.7 billion dollars, the 1 billion Eurobond.

Ongoing talks with the International Monetary Fund (IMF) was also expected to have an impact on the rate.