… amid business community clamour for steeper rate cut
By Joshua Worlasi AMLANU and Kingsley Webora TANKEH
The Monetary Policy Committee (MPC) is meeting under improving domestic economic conditions but rising global energy prices that threaten to test the country’s steady disinflation trend, Bank of Ghana Governor, Dr. Johnson Pandit Asiama said at the opening of the central bank’s 129th policy meeting.
Headline inflation slowed to 3.3 percent year-on-year in February, extending the country’s disinflation trend to more than a year and placing the rate below the lower bound of the Bank of Ghana’s medium-term target band, according to data referenced during the opening session.
“Inflation at 3.3 percent is not merely within the target band; it is below the lower bound,” Dr. Asiama told committee members, noting that such figures would have been considered difficult to achieve in recent past.
The decline in inflation has been supported partly by falling transportation costs
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