The Bank of Ghana (BoG) has published the schedule for its Monetary Policy Committee (MPC) meetings for 2025.
This provides a clear timeline for discussions on Ghana’s economic outlook and monetary policy decisions.
The MPC serves as a vital forum for evaluating the country’s economic performance and determining adjustments to the monetary policy rate, a key tool for controlling inflation and promoting economic stability.
The first MPC meeting of the year is scheduled to take place from January 22 to 24, with the outcomes set to be communicated via a press release on January 27.
Subsequent meetings will follow in March, from the 25th to the 28th, with a press release on March 31.
The third MPC for the year is slated for May 21 to 23 with the decisions from the meeting being announced on May 26.
As the year progresses, the fourth meeting will be held from July 23 to 25, with a press release scheduled for July 28.
In September, the committee will convene from the 23 to the 26, with the outcomes to be made public on September 29.
The final meeting of the year is set for November 19 to 21, with a press release summarising the decisions to follow on November 24.
These timelines will be followed strictly, barring any changes in the course of the year.
The MPC’s deliberations play a pivotal role in shaping Ghana’s monetary policy direction.
These meetings assess economic developments, both domestic and global, to decide whether to maintain, reduce, or increase the monetary policy rate.
This rate directly influences the cost of borrowing and lending, affecting businesses, households, and investors alike.
The Central Bank at its last MPC meeting for 2024 kept the policy rate at 27% to tame currency and inflationary pressures.
The decision was taken after the committee reviewed the prevailing economic developments in the country.
“Inflation projections show a slightly elevated profile driven by high and unstable food prices, pass-through of previous exchange rate pressures, fuel prices, and utility tariff adjustments. The price increases in food items have been steep in the course and together with a fast-paced depreciating currency earlier on in the year, they have altered the inflation trajectory and stalled the disinflation process,” the MPC said in a press statement to announce the rate on Friday, November 29, 2024.
Click here to read the calendar.
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