The central bank governor, Dr. Ernest Addison, announcing the decision in Accra to journalists said the although inflation remains above the bank’s target, everything points to consumer prices declining as the effects of the COVID-19 wanes.
Dr. Addison stated that the bank’s assessment shows that the economy was bouncing back and its surveys show that the pace is similar to the pre-pandemic period.
The decision to keep the rate unchanged is expected to allow businesses to access to cheaper credit in order to stimulate economic activity after the massive hit caused by the virus.
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