Ghana monetary policy committee to hold emergency meeting on Wednesday

PUBLISHED: Tue, 16 Aug 2022 08:44:02 GMT
Cooper Inveen
Pedestrians walk in front of Ghana’s central bank building in Accra, Ghana, November 16, 2015. REUTERS/Francis Kokoroko/File Photo

ACCRA, Aug 15 (Reuters) – Ghana’s monetary policy committee will hold an emergency meeting on Wednesday to review recent economic developments, the central bank said in a statement on Monday.

Last week data showed that consumer inflation accelerated to 31.7% annually in July, its highest since late 2003, and the government’s top statistician warned that it was not possible to say whether prices had peaked. Read full story

Wednesday’s “meeting will conclude with an announcement of the decisions of the committee,” the bank said.

The committee usually meets every two months and the next meeting was meant to be held at the end of September.

At its July 25 meeting, the bank kept its main interest rate GHCBIR=ECI unchanged at 19%, after increasing it by 550 basis points since the end of last year to tackle rampant inflation. Read full story

(Reporting by Cooper Inveen; Writing by Alessandra Prentice; Editing by Alistair Bell)

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