Bank of Ghana MPC meets to review economy

The Monetary Policy Committee (MPC) of the Bank of Ghana meets today Tuesday July 14, 2009 to review the economy and declare on the prime rate. The prime rate is currently pegged at 18.5%.

Information reaching ghanabusinessnews.com says the meeting which began at 10:00am and is chaired by the governor of the central bank, Dr. Paul Acquah, would look at the state of the economy since its last meeting Wednesday May 6, 2009.

After the last meeting the MPC announced no change in the prime rate – leaving it at 18.5%.

Before the announcement, there was much expectation within the business community of a reduction in the face of the global economic crisis, to encourage borrowing to boost the economy.

It is not clear yet, if after today’s meeting the prime rate would go down.

By Emmanuel K. Dogbevi