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MPC Press Release - Feb 2010 |
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Bank of GhanaMonetary
Policy Committee Press Release
Ladies and Gentlemen of the Press, Let me welcome you to the first press briefing of the Monetary Policy Committee for this year. The Committee has undertaken a review of the macroeconomic situation against the background of developments in the global economy. We assessed developments in the economy with respect to the pace of domestic economic growth, the execution of the budget, the external sector and the outlook for inflation. On the basis of the discussions and the prospects for a continuation of the disinflation process and improvements in economic activity and output growth, the Monetary Policy Committee has decided to reduce its Policy Rate by 200 basis points from 18 percent to 16 percent. Let me now explain in some detail the reasons behind this decision.
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Monetary Policy