Monetary Policy
Press Releases
Transcript of Feb. 2015 MPC Press Release
Thursday, 26 February 2015 00:00

We will continue to maintain a policy stance that will help us to sustain the stability. A lot of people did not believe me last year when I kept saying that the continued depreciation of the cedi was due to speculative activity. We saw the sharp reversal towards the end of the year. So, this is still a part of the trend now. The question is how to calm the nerves and how to make people believe that the policies we have outlined will be followed through. We are very firm that an IMF programme will be concluded and signed off.

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MPC Meeting Days for 2015
Tuesday, 24 February 2015 00:00

 Monetary Policy Committee meeting dates for 2015 are as follows:

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MPC Press Release - Feb. 2015
Wednesday, 18 February 2015 00:00

 In assessing the inflation outlook, the Committee noted that inflation, which peaked in the last quarter of 2014, has begun to decline in January, 2015 on the back of tight monetary policy stance, base effects and improved inflation expectations. The Committee expressed concern about the rise in food inflation ahead of the lean season as well as the rising core inflation. However, the latest forecasts show that the disinflation is likely to continue through 2015, heading towards the target band of 8.0 ±2 percent later in 2016.

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Transcript of Nov. 2014 MPC Press Release
Friday, 28 November 2014 00:00

The Eurobond and cocoa loan proceeds have reflected more in the level of reserves, as the level of reserves are currently more than US$6 billion, the largest we have seen for a long time. The level may decline as we get to the end of the year since we have outstanding payments to be made. However, we are certain to achieve our target of 3-months of imports cover.

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MPC Press Release - Nov. 2014
Wednesday, 12 November 2014 00:00

The latest forecast indicates that inflation would continue to remain outside the target band but expected to ease gradually towards the medium term target band of 8.0±2 percent in the first half of 2016. The ease in inflation over the policy horizon is contingent on significant fiscal consolidation and maintenance of the tight monetary policy stance. In the absence of these, the inflation target could take a longer duration in excess of twelve (12) quarters to be achieved, considering the vulnerabilities in the economy.

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Press Releases