{"id":413360,"date":"2018-03-26T15:28:54","date_gmt":"2018-03-26T15:28:54","guid":{"rendered":"http:\/\/citifmonline.com\/?p=413360"},"modified":"2018-03-26T15:33:21","modified_gmt":"2018-03-26T15:33:21","slug":"mixed-reactions-meet-bogs-cut-policy-rate","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2018\/03\/mixed-reactions-meet-bogs-cut-policy-rate\/","title":{"rendered":"Mixed reactions meet BoG\u2019s cut in policy rate"},"content":{"rendered":"
There are mixed reactions to the Bank of Ghana\u2019s new policy rate of 18%.<\/p>\n
The central bank on Monday, March 26, 2018 announced that it has reduced the policy rate by 200 basis points after concluding its Monetary Policy Committee (MPC) meetings for the quarter.<\/p>\n
The Governor of the Bank of Ghana, Dr. Ernest Addison among others mentioned that the decision was arrived at following indications that other variables point to the central bank\u2019s ability to meet the annual inflation target.<\/p>\n
But some industry players that\u00a0Citi Business News<\/strong>\u00a0has been speaking to have expressed diverse thoughts on the impact of the reduction.<\/p>\n
For the Head of the Economics Department of the University of Ghana, Prof. Peter Quartey, the reduction has been anticipated.<\/p>\n
He believes it should propel growth of private sector businesses.<\/p>\n