Bank of Ghana meets on economy

The Monetary Policy Committee (MPC) of the Bank of Ghana will hold its 46th regular meeting beginning August 29, 2011, to review developments in the economy, officials say.

The three-day meeting will end with a news conference to announce the Bank’s policy rate.

“The meeting will conclude with a press conference on August 31, 2011 to announce the decision of the Committee on the appropriate positioning of the Bank’s policy rate,” it said in a statement on its website.

The MPC cut the policy rate by 50 basis points (0.5 per cent) to 12.5 per cent from 13 per cent, citing low inflation and improved economic environment the last time it met on July 6, 2011.

By Ekow Quandzie